China closes gambling sites with Tether

On the Paxful P2P marketplace, merchants are selling up to $ 16.2 million in discounted Bitcoin in exchange for gift cards – an amount that represents half of Paxful’s trading volume, according to a report by Arcane Research, reports Cointelgraph.

Trading Bitcoin for gift cards accounts for 48 percent of Paxful’s sales, according to the report.

Much of this comes from doing business in areas with underdeveloped financial services, including communities where migrant workers send money to their families, according to Arcane.

And because many of them are done at great discounts from market value, they could be linked to illegal activity.

Vortex Blockchain Technologies has resigned itself with the Securities and Exchanges Commission (SEC) on a case in which Vortex’s securities license was revoked on October 23 because of the lack of periodic reports filed with the commission in nearly a year.

The last time the company was filed was in December 2019, a filing with the SEC said, and because of the long loophole, the revocation was necessary.

In China, mass arrests are being made and online gambling rings are being closed by a local branch of the Peoples’ Bank of China (PBOC), according to a report by CoinDesk.

The gambling activities included the Tether Stablecoin. So far, seventy-seven people have been arrested and three gaming venues have been closed, writes CoinDesk.

The arrests were made on the basis of alleged money laundering activities in which “whitewashing” was carried out to cover up funds obtained through illegal online gambling. The total amount of money laundering reported is around 120 million yuan or $ 17.95 million.

The Japanese soccer star Keisuke Honda has launched a new cryptocurrency in collaboration with Rally as part of the Creator Coin initiative, according to a Medium article. Creator Coin aims to offer cryptocurrencies with custom brands for content creators and personalities.

The coin, known as the KSK Honda Coin, will “give its fans from all over the world unmatched access to his life as a football player and entrepreneur”.

Launch perks include exclusive Keisuke Honda career videos, private discord chats, and recognition. He said his idea was to “make new connections with my most loyal fans,” the article reads.

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