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People’s Bank of China to Launch “Digital Currency Electronic Payment” to Combat Illegal Online Gambling

Niji Narayan

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People’s Bank of China to Launch “Digital Currency Electronic Payment” to Combat Illegal Online Gambling
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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.

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Asia

China Vows to Work with Philippines to Combat Online Gaming Crimes

Niji Narayan

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China Vows to Work with Philippines to Combat Online Gaming Crimes
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China has vowed to work closely with the Philippines to combat cyber-criminal activities arising from Philippine Offshore Gaming Operations (POGOs), according to a statement issued by the Chinese Embassy in Manila.

“The Chinese side would like to continue to work closely with the Philippines to combat such crimes as telecommunications fraud, illegal online gambling, money-laundering, illegal employment, kidnapping, extortion, torture, murder and the like so as to effectively protect the legitimate rights and interests of nationals of the two countries, and to promote the China-Philippines friendship and cooperation,” said the statement.

The embassy released the statement after local media reported that the Ministry of Public Security of China has cancelled the passports of thousands of Chinese nationals working for the Philippine Offshore Gaming Operations (POGOs).

In order to crack down on cross-border telecom fraud crimes, the embassy said China’s Ministry of Public Security has obtained a list of Chinese nationals suspected of committing long-term telecom fraud crimes abroad, who are classified as the persons prohibited from exiting China according to the Exit and Entry Administration Law of China.

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TVBET will showcase its streaming solutions to the Indian market at SPiCE

George Miller

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TVBET will showcase its streaming solutions to the Indian market at SPiCE
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The leading B2B provider TVBET is going to present its suite of versatile live-games at SPiCE India next month. In addition to presenting the existing product line as well as recently released 1Bet, Lucky6, and BackgammonBet, the company will share its experience of new market expansion with the industry representatives.

Thanks to the growing portfolio of widely beloved games, TVBET made remarkable progress in 2019, by starting cooperation with more than 100 casinos and betting operators. Currently, it pursues the goal of global market expansion. This time in Goa, the company experts will be glad to meet igaming experts both local and international to describe what benefits can be achieved through the live-games integration.

Peter Korpusenko, CEO TVBET: “According to our strategy, we see India as a promising igaming market for further growth and can’t ignore the increasing interest in top-notch games from players. Plus, we are actively entering the Middle East region in parallel, which is why we do know what formats for web, mobile, and land-based will bring success to both parties. At SPiCE, we’d like to reveal the full potential of TVBET games, that proved to be excellent”.

In total, the full TVBET’s integration consists of 11 well-known card and lottery games, already helping companies to increase their GGR. All the products are led by the charming presenters and broadcasted online in 4K format.

The SPiCE India conference will be held in Goa, March 25-27, and the company will be presented at stand 1006 during the whole conference.

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KN ParadiseCam Ranh Integrated Resort to Further Develop Vietnam’s Growing Gaming Industry

George Miller

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KN ParadiseCam Ranh Integrated Resort to Further Develop Vietnam’s Growing Gaming Industry
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KN Paradise Cam Ranh Integrated Resort (“KNIR”) is a development project incorporated under the KN Cam Ranh Company Limited in Cam Ranh, Khanh Hoa Province, Vietnam. KN Cam Ranh Company Limited has announced their formal intention to develop partnerships in the implementation of investment and operation of their KNIR project. This comes as the Vietnamese government has recently issued the Investment Certificate allowing the KNIR to develop a large-scale casino complex.

KNIR project spans over 800 hectares of land in Cam Ranh and inclusive of a 5 kilometer stretch of pristine beachfront property, KNIR is perfectly located within a five minutes car drive from the Cam Ranh International Airport and 30 minutes’ drive from the Nha Trang City. The KNIR master plan includes a wide range of hospitality and residential properties, as well as an abundance of premium facilities including a prestigious award-winning golf course, multiple 4-5 star hotels, luxury resorts, branded apartments, villas, mansions, shophouse, townhouses, casino complex, shopping and duty-free center, MICE facilities, luxury marina, union square, beach clubs, water park, theme park and many more. The 27-hole golf course, named KN Golf Links, opened under the development and design of the golf legend Greg Norman on 27 October 2018.

KN Cam Ranh Company Limited has also announced their formal intention to develop a partnership of the casino complex with an international operator. With the Investment Certificate recently approved by the Vietnam government, KNIR is permitted to develop a casino on the resort premises. The casino is planned to cover 16.2 hectares and has been approved for operating 200 gaming tables and 2,000 electronic gaming machines.

The Investment Deputy General Director of KNIR stated that: “It is with great enthusiasm that we are adequately ready to cooperate with the international casino gaming operators for the development and operation of our integrated resort in Cam Ranh. Khanh Hoa Province, Vietnam. Undeniably, our strategic location and development plan will create an indispensable addition to the Pan-Asia integrated resort marketplace.

The company plans to announce increased industry integration and participation, including participation in a variety of gaming events and trade shows throughout Asia.

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