Japanese officials are intensifying their efforts against unlawful cryptocurrency gambling among domestic participants, especially those registered in overseas licensed casinos.
As per various reports, local law enforcement has allegedly detained local participants of offshore establishments utilizing a cryptocurrency tracking mechanism. The Asahi Shimbun and Nikkei indicate that authorities have sent 10 individuals from Chiba and Tokyo Prefecture to prosecutors on suspicions of gambling at foreign casinos.
Law enforcement has pinpointed approximately 130 individuals across the nation who are expected to undergo questioning.
This marks the first occasion that Japanese officials have employed a crypto-tracking instrument in their initiatives against online gaming. While regulated gambling is permitted in Japan, unauthorized activities, particularly in unlicensed offshore venues, are stringently forbidden.
Japan Implementing A Crypto ‘Tracking Tool’ For The First Time
Local authorities are now proactively utilizing a cryptocurrency tracking tool to identify residents who frequently gamble at overseas casinos. On November 26th, the Security Division of the Tokyo Metropolitan Police Department sent 10 individuals to the prosecutor’s office for further examination.
Sportsbet.io is among the platforms allegedly utilized by individuals sent to the prosecutor’s office. Image captured from Sportsbet.io.
Since the commencement of police operations, authorities have already submitted 57 participants, and they are investigating around 130 additional individuals.
These apprehensions occur as numerous locals face challenges due to an ailing economy. Law enforcement has monitored dozens of players from 24 prefectures, and many have faced incarceration for willingly using their funds on their preferred casino games.
The police report pinpointed notable offshore casinos such as BitCasino, Sportsbet.io, and Vera & John as the prevalent betting platforms visited by these players.
As of now, the market capitalization of cryptocurrencies has reached $3.25 trillion. Chart: TradingView
Japanese Participants Bet Crypto On Popular Slots, Table Games
Reports indicate that participants utilized cryptocurrencies to wager on slot machines and popular table games. The police noted that all individuals acknowledged their involvement in the illegal activities. All three sites are readily accessible within Japan via players’ mobile devices and personal computers.
Image: casinoonlinebeton.com
The participants’ ages vary from 20 to 60, and the list encompasses a civil servant, corporate workers, and even a stay-at-home parent.
The police also conveyed that all individuals experienced financial losses in these reputed offshore casinos. One player reportedly suffered a loss of 30 million yen or $194,000.
Public Questions The Authorities’ Crackdown On Gambling
The police’s campaign against unlawful gambling in Japan has elicited mixed responses from the populace. As some elderly individuals in the country struggle to make ends meet, many are questioning whether the recent crackdown on casino participants is justified.
Featured image from Cult MTL, chart from TradingView
