China Payment Clearing Association Issues Warning on Preventing Cross-Border Gambling Fraud via Virtual Currency Top-ups

The China Payment & Clearing Association issued a reminder on preventing cross-border gambling fraud involving virtual currency top-ups, aimed at helping the general public enhance their awareness against fraud and gambling refusal, as well as their ability to prevent and identify fraud. The China Payment & Clearing Association reminds that cross-border gambling means "ten bets, ten losses," participating in gambling via virtual currency involves greater concealment and risk, and participating in gambling or providing fund settlement for gambling activities constitutes illegal and non-compliant behavior. Do not participate in virtual currency gambling transactions and safeguard the bottom line of fund security.