The Hong Kong police plan to crack down on illegal gambling activities related to cryptocurrency during the European Cup

2024-06-04 17:35:26

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ChainCatcher news, according to exclusive reports from Sing Tao Global Network, offshore gambling websites have targeted the European Cup and are enticing Hong Kong residents to engage in illegal betting with cryptocurrency. Data from the Asian Racing Federation shows that the number of gambling websites accepting the five highest market cap cryptocurrencies—BTC, ETH, Tether, BNB, and Solana—has increased from 648 in 2020 to 811 in 2024, a growth of 25%. Among the 20 most popular illegal gambling websites in Hong Kong, 12 accept cryptocurrency bets. A spokesperson for the Hong Kong police stated that they will continue to adopt a four-pronged strategy, namely prevention, education, intelligence, and law enforcement, to combat any form of illegal gambling activities. In response to the potential illegal offshore gambling activities that may arise during the European Championship, the police have strengthened intelligence gathering and will take appropriate law enforcement actions as necessary.

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