The post China Seizes $160 Million in Crypto from Illegal Gambling Platform! appeared first on Coinpedia Fintech News
The Chinese police recently seized cryptocurrency worth $160 million from a gambling platform in the country’s first-ever crypto seizure through a court ruling. The police operated with the platform’s issuing institution to freeze the assets and nab three suspects located overseas. This marks a significant step in China’s ongoing crackdown on illegal activities involving cryptocurrencies. The government has been tightening regulations on crypto trading since 2017, including banning initial coin offerings. The most delinquent seizure signals Beijing’s resolve to restrain illegal activities involving cryptocurrencies.