Emily Walker
Officials in Japan are ramping up efforts to combat illegal cryptocurrency gambling among residents, especially those engaging with offshore licensed casinos.
Local law enforcement has successfully arrested individuals for participating in these offshore activities, utilizing a special crypto tracking tool. Reports from The Asahi Shimbun and Nikkei indicate that 10 individuals from Chiba and Tokyo Prefectures have been submitted to prosecutors for their involvement with offshore gambling.
Authorities have pinpointed approximately 130 players nationwide who are under investigation.
This marks the first occasion on which Japanese officials have implemented a crypto-tracking tool in relation to online gambling. While Japan permits regulated gambling, it enforces strict bans against unauthorized activities, particularly regarding unlicensed offshore casinos.
Japan Implements Crypto Tracking for Gambling Enforcement
The Tokyo Metropolitan Police are now utilizing a cryptocurrency tracking tool to locate residents who frequently gamble at offshore casinos. As of November 26th, the police department has referred 10 individuals to prosecutors for further investigation.
Since launching these operations, authorities have already referred 57 players and are examining approximately 130 others.
The timing of these arrests coincides with economic challenges facing many locals. Police have monitored “dozens” of players from various prefectures, with many facing consequences for choosing to spend their money on casino games.
Authorities have noted popular offshore betting platforms like BitCasino, Sportsbet.io, and Vera & John among those frequently used by players.
Japanese Gamblers Place Bets with Cryptocurrency on Slots and Table Games
Reports reveal that individuals employed cryptocurrencies to gamble on slot machines and various table games. The police confirmed that all identified players acknowledged their illegal actions. Access to all three gambling sites is readily available in Japan via mobile devices and personal computers.
The age range of the players spans from 20 to 60 years, including public servants, corporate employees, and a homemaker. It was also reported that each player incurred losses in these offshore casinos, with one individual allegedly losing 30 million yen, approximately $194,000.
Public Reaction to the Crackdown on Gambling
This intensified crackdown on illegal gambling has sparked varied responses from the public. Many elderly citizens, facing financial difficulties, question the necessity of such measures against casino participants.
Featured image by Cult MTL, chart provided by TradingView