A Busy November for Microgaming

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One of the biggest slot providers in the industry, Microgaming, had one of its busiest months so far. The popular game studio has released nearly ten new slots, and it’s not stopping its march by the end of the year.

It all started with the Deadmau5 collaboration which paired Microgaming with the global DJ star. Microgaming’s smaller studios Neon Valley and All41 helped it launch two exciting titles in Augusuts and Tiki Reward which are aiming to become the industry’s next top hits.

Six years after the original classic Reel Gems, Microgaming has just released a sequel called Reel Gems Deluxe which has topped the slot charts instantly and will undoubtedly be among the top slots in the best Bitcoin casinos too.

More Ways to Win

Microgaming’s busy November started early when the studio announced the collaboration with Joel Zimmerman, the worldwide DJ star better known by his stage name Deadmau5. The Deadmau5 slot game offers 243 ways to win and shares the DJ’s high and frenetic energy as well as his best tracks.

With cool music visualizations that are typical for the popular DJ as well as the Rolling Reels and Drop the Wilds mechanic, it’s a high-energy slot that you’re going to love.

Microgaming’s next two titles were based on Roman legends. The first one, Neptune’s Riches, introduced an ocean of wilds to players along with a few great mechanics. Multipliers and the Walking Wild Free Spins added more flair to the slot machine, allowing stacks of wilds to absorb other wilds and raise multipliers for massive win potential.

The studio’s second Roman slot, Augustus, was an homage to one of Rome’s biggest leaders. A highly volatile slot with fully wild reels, Augustus offers truly epic wins in the free spins round. It’s also visually quite impressive, and the marching soundtrack in the background paints a pretty picture.

Tiki Reward is another visually-stunning slot machine launched exclusively on the Microgaming content platform. A 50-payline slot with a Polynesian spin, Tiki Wilds and jackpots truly spice up the gameplay in this slot.

Revisiting a Classic

Remember Microgaming’s classic Reel Gems from 2014? Well, the Isle of Man studio has decided to release a sequel simply titles Reel Gems Deluxe. Thanks to Hyperspins, giant symbols, unlimited retriggers, and other bonus features, it has a maximum winning potential of 1,000x on each spin, which, you must agree, is pretty nice.

Slots aren’t the only type of game Microgaming has released in this busy November. In a red-hot twist on classic roulette, Microgaming has released Multifire Roulette with rewards over 500 times your stake. The game comes with amazing visuals and a Multifire multiplier that makes it a must for all fans of the wheel.

Available at the top Microgaming Bitcoin casinos such as Bitcasino.io, all the new games further diversify Microgaming’s great portfolio. Looking ahead, the studio has already announced dozens of new games that will come before the New Year and 2021. We’re looking forward to them all.

November 27, 2020: • No Comments

African App Chipper Cash Raises $30 Million and Launches Crypto Trading

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Chipper Cash, an African startup company that was backed up by Jeff Bezos recently, managed to raise $30 million. Right after raising that kind of money, the app added crypto trading to its list of options, allowing its users to buy and sell Bitcoin.

The app was started as an African cross-borders payments startup. It received $30 million in a Series B funding round led by venture capital Ribbit Capital. Amazon CEO’s personal VC fund Bezos Expeditions also participated, fueling Chipper Cash’s growth.

With cryptocurrencies increasingly more popular in Africa, an app such as Chipper Cash can change the financial landscape. With over 3 million users (and counting), it could bring Bitcoin and cryptos closer to the African youth and get them interested in the matter.

Massive Growth in the Space of a Couple of Years

Chipper Cash was found in 2018 in San Francisco by two African entrepreneurs – Maijid Moujaled from Ghana and Sam Herunjogi from Uganda. In the beginning, the service was available in only seven African countries, including Ghana, Uganda, and Nigeria. All three countries have hit record unemployment numbers, especially among the youth. Since many young Africans don’t have a bank account, Chipper Cash gave them a way to enjoy simple and free transfers with low cross-border rates.

In just two years, Chipper Cash has 3 million users and over 80,000 daily transactions. In June of 2020, the monthly payments value was over $100 million. The meteoric rise of the company got the attention of Amazon CEO Jeff Bezos, who supported the idea through his personal VC fund.

The $30 million raised in funding will certainly be put to good use. CEO Herunjogi plans to expand the app’s features to include other services. Moving into new markets is also a priority. Shortly after raising the money, Chipper Cash included crypto trading to its app. Africans can now buy and sell cryptocurrencies such as Bitcoin or invest in major shares.

Nigerians, for example, will now be able to invest money in Apple, Amazon, or Tesla shares via the app. Users have demanded such improvements, and Chipper Cash’s team obliged.

Buy and Sell Bitcoin with Ease

The website recently added the option to buy and sell Bitcoin in beta. The option is available to Nigerian customers only, but should roll out to other countries soon. Chipper Cash’s users can invest in US stocks thanks to the partnership with US financial services company Drivewealth.

Chipper Cash’s efforts will bring cryptocurrencies closer to the African youth. High unemployment rates have seen Nigerian young people turn to Bitcoin casinos and online betting, putting many of them in even more debt.

Thanks to apps such as Chipper Cash, young Africans can learn more about cryptocurrencies in general and stock trading. That’s one of the biggest upsides of the brilliant app.

According to Herunjogi, Bezos’ backing means a lot for Africa as a whole. The winner of such backing is Africa’s tech ecosystem, as it will surely attract investments from higher-caliber firms.

November 25, 2020: • No Comments

Yggdrasil Gaming Releases Syncronite

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If you’ve ever played slots online, you know that Yggdrasil Gaming is among the top providers. The Maltese studio brought the world the fantastic Vikings franchise of slot machines, and is constantly reinventing the wheel when it comes to gameplay features and innovative and high-paying mechanics. Its latest release called Syncronite is further proof that Yggdrasil is one of the giants in the online gambling industry.

With special features such as Synced Reels, the slot is an art-deco beauty. It’s not all looks, of course. Syncronite is an excellent piece of a slot machine with great gameplay that can bring you whopping sums of cash if you’re lucky.

As Innovative as It Gets

The new slot game features the trademark Yggdrasil Gaming look and feel. It’s an art-deco beaut that looks tres chic with the dark theme and the animated symbols. The slot has 729 active ways at the beginning, but these can expand to 21,168 winning ways.

If you’re lucky, you can win up to 64,000 times your stake, which is a cash amount that nears the payout of the top jackpots in the industry.

What really strikes the most when you start playing are the graphics. We’re used to seeing great-looking Yggdrasil slots and Syncronite is no different. The shiny and nicely designed symbols look right at home with the dark theme. A glimmer of light will go over them from time to time, displaying a nice effect that can rival top video games.

Syncronite is a visual gem of a slot for sure, but what really shines is the gameplay. The innovative Splitz mechanic and the Synced Reels can combine to deliver fantastic payouts. While there is no bonus or free spins round, the combination of these features is more than enough to make you salivate.

Land 2-6 Splitz symbols on the reels, and each reel can display up to 8 matching symbols. The number of ways can go up to over 21,000 ways to win, giving you more than enough chances to hit the big bucks.

The two features are added on top of super-fun and straightforward gameplay, so even if you’re new to online slots, you shouldn’t have trouble to spin Syncronite’s reels.

Leading by Example

Yggdrasil Gaming has always been leading by example in the online gambling industry. The popular studio has released dozens of hits so far even though it’s a relatively new developer. It is constantly at the forefront of innovation, giving the iGaming world new playing mechanics that can turn your world upside down.

Syncronite is the latest in the line of thrilling and high-paying Yggdrasil slots. As Jonas Strandman, Senior Games Strategist said, it’s a game for true casino lovers with a premium look and feel. The gameplay is familiar to all players, and the new features are not hard to get used to.

With great winning potential and a top prize you rarely get to see these days, Syncronite is a game you should definitely try. Head over to Bitcasino.io and give it a spin for free. When you’re ready to splash the cash, make a deposit and go on the hunt for the big bucks.

November 20, 2020: • No Comments

PayPal Enters the Cryptocurrency Race

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One of the world’s leading e-wallets, PayPal, has just entered the crypto race. From now on, PayPal’s customers can buy and sell Bitcoins and other virtual currencies with their PayPal accounts. Once exchanged, you can use the virtual coins in over 25 million marketplaces around the world and buy whatever you feel like.

PayPal’s latest move also opens up a whole new world for Bitcoin casinos. Since you can make crypto transactions using your PayPal wallet from now on, buying and selling Bitcoin and playing at crypto casinos has just been made a whole lot easier.

It’s a great move by a major e-wallet that casino fans have been hoping for a long time.

Jumping on the Cryptocurrency Wagon

For a long time, cryptos have been a niche payment method. We all know that the world is not ready for cryptocurrencies. Many countries are poised to ban cryptos, while others are already reaping the benefits of virtual currencies in the wake of the coronavirus pandemic.

PayPal is one of the first major e-wallets to officially accept Bitcoin and cryptos. It’s a move that will rattle the world of online payments and one that could have major positive consequences for Bitcoin and cryptocurrencies in general.

According to representatives from the company, PayPal aims to increase customer understanding and crypto adoption. As part of this, the company will offer education content to help customers understand the unique ecosystem.

PayPal is a massive market for cryptos. Adding them to its ecosystem surprised many experts. There must be someone very interested in cryptos at the company, but crypto fans won’t mind. It opens up a massive number of possibilities for Bitcoin and the gang. So far, crypto transactions were only possible via Revolut and Square’s Cash App. However, none of them is bigger than the e-wallet king – PayPal.

The move has opened up new paths for Bitcoin in a wide range of markets, including Bitcoin gambling.

How Does It Work?

Using the virtual coins via PayPal will work via converting. A customer can convert the cryptocurrency into relevant national currency, so the company the payment is sent to will receive fiat money, not the virtual coins. It’s a workaround for crypto transactions and not a full-blown crypto exchange.

However, PayPal expects Bitcoin payments to go live in early 2021. This will shatter the world of online payments as we know it, and it’s PayPal’s “fault”. PayPal has been granted permission for this move from the New York State Department of Financial Services. It received the first Bitlicense in the world. It’s a new license that grants payment providers a chance to deal with cryptos.

This isn’t the first time PayPal dabbled in cryptocurrencies. For a while, it was Facebook’s Libra’s first partner before pulling out of the deal. The company cited a controversial scheme which attracted attention from numerous financial regulators. Facebook is currently rethinking the idea of Libra, but it certainly can’t count on PayPal – it has gone the other crypto way.

November 18, 2020: • No Comments

Infinity Weekend and Beyond at Bitcasino.io

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Bitcasino.io, one of the premier Bitcoin casinos on the Internet, is always hosting the most fun promotion. Its customers can now enjoy an excellent weekend with the cool Infinity spins that won’t deplete your balance. These spins give the term free spins a whole new meaning.,

Called Infinity Weekend, all of Bitcasino.io’s customers can get a whole minute of infinite Infinity spins when they win €500 on Red Tiger Gaming slots. The new promotion will trigger 60 seconds of Infinity Spins and give you the Infinity Spins bonus with each spin worth €0.40. The spins will be issued on the casino’s Slot of the Week, so you’ll always be playing the latest hits.

To Infinity and Beyond!

Before you start with the promotion, you need to learn more about the Infinity Spins. Available exclusively at Bitcasino.io, these spins allow you to enjoy a slot for a certain time without depleting your balance. That’s right – there are the real free spins.

Infinity Spins is actually a bonus that can be unlocked at the casino when you play the respective Game of the Week. This week, it’s NetEnt’s sequel to a classic – Gonzo’s Quest Megaways. The exciting slot machine is pretty generous on its own, but it can be even more lucrative when you use the Infinity Spins on it.

To trigger the ‘Happy Hour’, which is actually a minute, you’ll need to win €500 on any Red Tiger Slot in a day. The popular studio has plenty of great and high-paying slot machines, so that shouldn’t be a big problem. As soon as you do this, you will get 60 seconds of Infinity Spins that can bring you some pretty big bucks.

Each Infinity Spin is worth €0.40, so the possibilities to win big are endless during that minute. Go on and claim your Infinity bonus and win prizes beyond your imagination only at Bitcasino.io!

Keep in mind that you can only claim the bonus once a day. It’s more than enough, though, especially on slots such as Gonzo’s Quest Megaways.

New Multiplayer Game at Bitcasino

The Infinity Spins promo is not the only new thing at the leading Bitcoin casino. It has just added a brand-new multiplayer game to its lineup in Aviator, a game that provides a one-of-a-kind experience.

Aviator is a new multiplayer game that offers a unique experience. It’s not a slot nor a casino game – it’s a multiplier multiplayer game. The Provably Fair piece is transparent and based on cryptographic technology, allowing you to take control over your wins and cash out whenever you want to.

It’s a social game as well. You can see what others are winning and become part of the community to receive bonuses.

To play the game, you’ll need to place a bet or two. Now let the plane fly and observe its path. Cash out before it flies away and your bet will be multiplier by the coefficiency of the lucky plane. It’s a thrilling game of multipliers you can play with others that offers a unique experience no slot can match.

November 13, 2020: • No Comments

Mexican Drug Cartel Members Charged with Money Laundering Via Bitcoin Casinos

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A couple of weeks back, the US Department of Justice has charged six individuals with money laundering. The persons were part of a Mexican drug cartel that has been laundering money through Bitcoin casinos for a long time. Evidence revealed that the cartel members used local and foreign bank accounts for their activities and mobile apps such as WeChat and WhatsApp to communicate.

They now face up to 14 charges that include money laundering, attempted fraud, and bribery among others. This isn’t the first time Bitcoin casinos have been used as a front for illicit activities, with money laundering networks being discovered in Asia and elsewhere.

Part of an Organized Group

On October 15, the DoJ filed charges against six people aged 40-46 that have allegedly been using cryptocurrencies and Bitcoin casinos to launder money for infamous Mexican drug cartels. The investigation has been going for more than 4 years and reached its climax in mid-October after the criminals have been apprehended.

While no cartel names have been released, the infamous Sinaloa cartel is speculated to have been involved. The defendants have been using domestic and foreign bank accounts to launder the funds. The money was smuggled as bulk cash into the US before being laundered in the casinos.

One of the criminals, Tao Liu, tried to bribe an officer with money to create fake passports that will enable the group to come into the USA legally. His offer included cash or cryptocurrency as a reward.

The group faces up to 14 charges that go beyond simple money laundering. The DoJ has slapped them with bribery, fraud, and conspiracy to distribute cocaine as well. Each of the six members of the group faces up to 10 years in prison, but some may even get a life sentence behind bars.

No major Bitcoin casinos have been revealed in the indictment, which means that the sites were constructed fast and most likely didn’t even have a license to operate.

The DoJ Warns of a Possible “Storm” of Terrorists Using Crypto

US Attorney General William P. Bar announced that the DoJ expects a storm of terrorists using crypto in the coming period. The DoJ released an 83 pages-long framework that presents a roadmap to the currency crypto landscape. It studies the ramifications of technological crypto advances and warns of a “possible oncoming storm” caused by the increased use of cryptocurrencies among terrorist from the Middle East and elsewhere.

The DoJ has a number of mechanisms that will allow them to exert force over foreign actors. If terrorists start using a crypto network to defraud US citizens, the DoJ will exert full force to prevent that from happening.

And, while drug cartels and terrorists are illegally using cryptocurrencies for their nefarious goals, Bitcoin online gambling and the cryptocurrency itself are booming in popularity. Bitcoin’s price went up during the coronarivus pandemic, and more and more countries are joining the list of crypto-friendly regions.

November 11, 2020: • No Comments

Crypto Autumn Bonanza at mBit Casino

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mBit casino is one of the leading Bitcoin casinos. Online since 2014, the casino site has taken us on many adventures in the past and we hope that many new will follow. To celebrate the beautiful Autumn, the casino has started the Autumn Crypto Bonanza promotion which shares great daily rewards for all of mBit’s customers.

The Autumn Bonanza will last through November and give exciting stuff to all mBit players. All of the rewards will be active for 24 hours, so make sure to get your hands on them. All you need is to open up the map, click on the appropriate date, and see what’s on offer.

Freebies Galore in the Crypto Autumn Bonanza

Every day of November will be great thanks to mBit casino’s Crypto Autumn Bonanza. Open the map and you’ll see different holidays depicted in a funny way. You’ll see Thanksgiving and a crypto coin celebrating the Dia De Los Muertos, as well as a few more crypto coins enjoying by a campfire.

Each day on the map features different rewards. You can earn anything from crypto bonuses and no deposit bonuses to free spins, Grand Spins, and beyond. As mBit casino puts it, prizes will be falling from the sky like leaves in Autumn, and you can profit of it all.

Join the promotion to earn cool rewards every day during November. The daily rewards will boost your chances of winning and allow you to have even more fun. The reloads, for example, are playable on any slot in the Bitcoin casino’s library. You can also earn massive combos such as deposit bonus + free spins that will boost your crypto funds.

It’s a truly exciting special promotion with low-wagering rewards that will blow your mind away. Claim a bonus, and you’ll have fourteen days to turn it over between 25 and 40 times depending on the value. The terms are fair and bonuses great, making this Crypto Autumn Bonanza a blast.

Terms and Conditions

To be eligible for the offers, you must have made at least 3 deposits in mBit casino. You’ll need to opt-in to each daily promo from the promotions page to claim it. Players can only claim a single bonus at a time – if you don’t claim it during the promotion runtime, it won’t be available at a later date.

The wagering requirements are different depending on the type of bonus. Some will come with wagering of 25x, others will come with 40x. The good news is that you have 14 days to complete the wagering. If you claim free spins, they are active for 2 days before expiring. The wagering for free spins is set at 40x in 14 days.

When using the bonus, you can’t place a bet higher than 0.003 BTC. It applies for all bonuses including double up wagers. If you try to use your bonus on games that don’t contribute to the wagering, mBit casino will forfeit your funds. Read the terms and conditions to find even more info on this cool promo.

November 6, 2020: • No Comments

Bitcoin’s Volatility Expected to Rise After the Presidential Elections

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The USA is currently still processing votes for the new president. Incumbent Donald Trump and challenger Joe Biden are trading blows all over the country and it seems like these elections will be among the closest ever. The repercussions of the choice will be drastic and will surely be felt across different sectors.

One notable economic sector that will surely be affected is the crypto sector. According to experts, Bitcoin’s volatility is expected to rise as soon as America elects its new president. Data points and traders have pointed to the recent price fluctuations as proof, with statistics showing huge volatility jumps prior to the elections.

Bitcoin’s price is incredibly higher than where it was for the last Presidential elections. In 2016, a single Bitcoin went for $702, which is a far cry from the current price hovering around $14,000.

A Massive Jump

At the moment, the leading cryptocurrency economy is in the $390 billion range. This is a giant leap when compared to its position in 2016. Bitcoin’s price is climbing and getting pretty close to the 2017 records, and as soon as the new US president is elected, the volatility may go sky high.

According to recent data, major market fluctuations are expected as soon as the elections are finished. Charts show that Bitcoin’s volatility has jumped nearly 60% in the past month and over that for Bitcoin’s implied volatility over six months. Everything is pointing at higher volatility after the elections, just like it happened in 2016.

No matter the outcome of the elections, Bitcoin and royalties such as gold and silver will stay strong. On the bullish side, central banks will continue to flood the market with cash. With the coronavirus pandemic still not defeated, new stimulus packages are to be expected. On the bearish side of Bitcoin, new lockdowns can cause various problems for markets and drag the cryptocurrency down.

History Repeating Itself

The 2016 elections were crazy, with Trump winning in the last stretch after most media outlets made Hillary Clinton the new US president. The 2020 US Elections will be even crazier and will certainly cause a shift in the economy. This goes for both fiat and crypto economy, with the latter expecting big changes.

With civil unrest in the past months and economy on shaky legs, Bitcoin will continue to rise. Of course, no one expects banks to shift their stance on cryptos. No matter who wins the elections, monetary corruption will continue, and that could make a lot of people and businesses turn to Bitcoin.

The global economy is going through a slow recession. During the pandemic, the demand for services and goods was expectedly slowed down. Meanwhile, Bitcoin if flourishing in different markets. The Bitcoin online gambling explosion is one notable example, and many countries have turned toward the cryptocurrency (or digital payments) as a way to stop the pandemic recession.

It seems that we’re in for very surprising times for Bitcoin. If history repeats itself, there may be a massive jump soon, so keep an eye on the price and further developments.

November 4, 2020: • No Comments

Play Trick or Treat at bitStarz; Huge Combos for Everyone at mBit

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Halloween is right around the corner and it presents a chance for Bitcoin casinos to show off their spookiest contests. One of the premier crypto casinos, bitStarz, is hosting a Trick or Treat draw with €50,000 to share. From October 22 to November 3, bitStarz players should only wager a minimum of €5 on selected slot games to enter the spooktacular draw and scratch and claw their way to a piece of the massive prize pool.

Elsewhere, mBit casino’s Crypto Lab Experiment continues this week too. Join it to enter the current Buffalo Hunter promotion that offers huge combos for all of the casino’s customers.

Spooktacular Rewards

bitStarz’s latest spooky October Halloween promotion has a total prize pool of €50,000. It’s one of the biggest Halloween offers we’ve seen and entering it is as easy as it gets. If you already have an account in the casino, all you need to do is play slot games to get tickets to the raffle and claw your way to the top cash rewards.

The qualifying games for this exciting promotion are:

  • 4 Horsemen
  • 4 Horsemen II
  • Spinoween
  • Origins of Lilith
  • Hallow Reels

Your qualifying wager on the spooky slot machines must not be less than €5. Make such a bet on either one of them and you’ll qualify for the promotion with a single ticket. Of course, you shouldn’t stop there. The more tickets to the draw you have, the bigger the chances to get a large piece of that massive prize pool.

The Trick or Treat bitStarz draw lasts until November 3, 00:59 CET. Spin your way to top the leaderboard and you can win the biggest piece of the spooky cake – a cool €8,000. The remaining €42,000 will be divided among dozens of players, so even if you don’t top the charts, you’ll still get a great consolation prize.

It’s time to trick or treat and turn up the heat with this great bitStarz promotion!

Huge Combos for Everyone at mBit Casino

Another great Bitcoin casino, mBit, is turning up the heat this month with its great weekly offers. They’re all part of the Crypto Lab Experiment promotion that casino started back in September. This week, all players at mBit casino can earn a huge combo such as a Bitcoin deposit bonus and a bag of free spins.

The massive rewards will give you plenty of extra cash to spin the casino’s thrilling slot machines. With such massive rewards on offer, you won’t find fun and wins lacking at mBit casino.

To qualify for any of the offers including the latest one, you’ll need to have made at least 3 deposits in the popular Bitcoin casino. You will also need to opt in to the Crypto Lab Experiment to be eligible for the weekly promos. The wagering requirements for the bonuses you win range between 25x and 40x, depending on the percentage of the bonus.

Get yours at mBit right now and you’ll have a full pocket to try the casino’s newest slot games.

October 30, 2020: • No Comments

China Drafts Law on Digital Yuan

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In a surprising move, China’s central bank has drafted a law that will legalize a digital form of yuan and outlaw all other digital currencies that might want to compete with it. Officially called Renminbi (RMB), it will soon become the country’s sole digital currency, with no individual or unit able to sell tokens or digital tokens that replace RMB in market circulation.

Simultaneously, the People’s Bank of China has recently been cracking down on crypto gambling sites. It is targeting those who use Tether in a move to outlaw any form of cryptocurrency that might put the digital yuan in trouble.

Countrywide Ban on Digital Currencies

The new revision of the proposed law includes a line that says anyone that tries to sell or produce tokens, digital tokens, and coupons is susceptible to a fine five times of the proceeds involved. With this move, the central bank is effectively outlawing all other digital currencies in favor of the digital yuan.

Very soon, China could become one of very few countries with an officially recognized digital currency. Libra, Bitcoin, and Tether, will be forever removed from the Asian country, effectively striping down numerous already booming industries.

The digital yuan will thrive because of this. Recently, China has been testing it heavily. For example, in Shenzen, the authorities gave over 5,000 people 200 yuan ($30) to spend in over 3,000 stores. The test was a success and shows that the Chinese people are ready for digital finances.

Of course, problems are to be expected. The central bank’s head of crypto research doesn’t expect things to go smooth in the beginning, admitting to certain problems. He hopes that they will be overcome with the oversight of the central bank and its chairmen.

Counterfeits have already begun to circulate in China with numerous digital wallets popping up on the market as soon as the new law was drafted. Just like with regular money, the central bank will need to fight forgeries of the digital yuan. But, the fact that all transactions involving the digital yuan must be confirmed by the central bank will defeat any and all fakes.

A Crackdown on Gambling Sites

Even though online gambling is illegal in China, people have managed to enjoy their favorite games through VPNs and other methods. The Central Bank is well aware that money is being transferred to offshore sites and is doing everything it can to prevent it.

A recent report says that the Central Bank has assisted the police in Huzhou City to crack down on crypto gambling sites using Tether. The money-laundering operation involved three gambling sites and laundered around 120 million yuan. A total of 77 suspects were apprehended, showing once again that the Central Bank plans to keep competitors off market.

Such moves are showing that the authorities will do anything under the guise of money laundering (or something else) to keep the digital yuan the only such currency in the country. Soon, Bitcoin will be a thing of the past in China with Renminbi taking its place.

October 28, 2020: • No Comments