Monthly Archives: January 2017

Chinese bitcoin exchanges put an end to loan-based trading

The central bank’s crackdown on bitcoin exchanges has forced two of the leading digital currency platforms in China to overhaul their service offerings.

OKCoin and Huobi announced that they are halting margin trading, per the requirements of the People’s Bank of China (PBoC). On its website, Chinese language OKCoin said it is stopping margin trading services “immediately.”

“There will be no new margin trading transactions. Users [with] loans that have already taken place will not be forcibly asked to repay the debt. Users will no longer be able to apply for new loans after voluntarily repaying previous loans,” OKCoin stated.

Huobi issued a similar statement on its Weibo account on Thursday, while BTC China announced that the suspension of its margin loan trading feature last January 12.

LeoVegas.com announces Leicester Tigers partnership

King of mobile casino, LeoVegas.com is thrilled to announce its latest sponsorship deal with one of the most successful rugby clubs in the world, Leicester Tigers.

Revealed as the Official Betting and Gaming Partner of the two-time European Cup winners and 10-time English league champions, the three-year deal will include the online casino’s brand logo on the Tigers team shorts until 2019, as well as on adult replica shorts for the 2017/18 and 2018/19 seasons.

Starting from January 2017, the sponsorship will kick-off in time for Tigers’ home game against Glasgow Warriors in the European Champions Cup and will be one of LeoVegas.com’s biggest sponsorships to date.

The deal with Leicester Tigers is a significant investment for the brand and will allow LeoVegas.com to cement itself in the sports betting market as a major player.

Unauthorized Macau UnionPay transactions reach $626M in 2016: report

Despite the government’s tightened grip on the rampant, unauthorized use of China UnionPay’s card system, authorities are reporting that the number of retail transactions using unregistered UnionPay point-of-sale terminals in the city state has more than quadrupled in 2016.

The city state’s Judiciary Police estimated that unauthorized China UnionPay transactions have reached MOP4.995 billion (USD626.5 million) last year, GGRAsia reported. That amount is about four times more than that MOP1.22 billion (USD153 million) calculated for the full year of 2015.

Macau police told the news outlet that they have conducted a total of 25 investigations involving unregistered UnionPay handheld terminals last year—20 of which were forwarded to the Public Prosecutions Office “for further action,” while the remaining five probes didn’t move forward as cases due to “lack of evidence.”

The police linked 53 people in the investigation: 14 from Macau, 38 from mainland China and one from Hong Kong, according to the report.