The People’s Bank of China is going to launch the world’s first state-backed cryptocurrency “Digital Currency Electronic Payment” (DCEP). One of the main aims of DCEP is to combat illegal online gambling.

DCEP will apparently include functions that will allow government authorities to track suspect payments and thus stamp out money laundering, tax evasion, terrorist financing, and online gambling.

Mu Changchun, the head of the digital currency research institute of People’s Bank of China, said that the new cryptocurrency will still allow its users’ “controllable anonymity.”

“We know the demand from the general public is to keep anonymity by using paper money and coins… We will give those people who demand it anonymity in their transactions. But at the same time we will keep the balance between the ‘controllable anonymity’ and anti-money laundering, CTF, and also tax issues, online gambling and any electronic criminal activities,” Mu Changchun said.

CasinoFair and CryptoCasino to benefit from ‘any device, any browser’ wallet and updated user interface

FunFair Technologies, the market-leading decentralised casino provider, has launched a pioneering new crypto wallet and updated user interface which now supports any browser and any device.

The new ERC20, non-custodial FunFair Wallet has been developed specifically to provide a seamless user experience for existing and new players gambling with FUN across its CasinoFair and Crypto Casino brands, marking a significant step forward in the name of blockchain mass adoption.

Blockchain projects have so far struggled with onboarding friction due to complicated funding mechanisms, security features which differ significantly to mainstream offerings and a lack of usability on mobile devices and certain browsers.

The FunFair Wallet addresses these issues with the introduction of more identifiable sign-up processes and security features, while most importantly ensuring the wallet can run on any browser and any device without the need for any third-party plug-ins or apps.

CasinoFair and Crypto Casino players will also engage with a far more immersive, social and Guaranteed Fair casino experience with an updated front-end, offering more intuitive access to their favourite casino games coupled with the most generous and varied promotions in blockchain casino.

Jez San, CEO at FunFair Technologies, said: “Since launch, we’ve maintained our position as the most progressive blockchain casino provider and the launch of the bespoke FunFair Wallet and second generation platform interface will confirm this position as we strive for mass adoption.

“Onboarding has been a struggle across the wider decentralised sector but our new wallet, built specifically for use at our partner casinos, will fix this immediately with a seamless, recognisable sign-up process, straightforward security features and simple crypto funding choices.”

FunFair’s first live casino brand, CasinoFair, has also relaunched its brand identity in-line with the new wallet and UI. It now features a more vibrant and progressive aesthetic which is expected to appeal to the millennial blockchain audience, while also staying true to its ‘Famous for Fairness’ foundations which underpin every aspect of its gaming experience.

The Cabinet of Iran has proposed for new cryptocurrency mining regulations in Iran, which include annual licensing for cryptocurrency miners.

Based on the proposal, licensed and registered cryptocurrency miners will be required to submit information such as their list of business activities, the predicted value of their investments, current employment status, rental agreements for the space itself, value of their mining equipment and the duration of the mining project. The license will need to be renewed every year.

The Iranian mining industry has grown dramatically over the past two years. One anonymous source in Tehran told CoinDesk that most miners he knows are “under the radar” and import equipment through the black market, without paying taxes.

The Central Bank of Iran finally recognised the grassroots industry and promised a lawful licensing procedure in July 2019. The pending proposal was approved by Reza Rahmani, Iran’s Minister of Industry, Mine and Trade. The Iranian mining licenses would only apply to miners with equipment that requires 30 kilowatts, which might exclude homemade mining equipment or small operations.

“It’s obvious that the power industry here in Iran, it’s not a private business, it’s from the government. They need to figure out how to balance mining [operations] so that they wouldn’t harm the power grid. If there’s a constant, a continuous consumption of electricity you can also make new power plants or assign power plants to this,” an anonymous source said.