Singapore’s Fincy leaves Myanmar citing integrity concerns

One such concern is whether the gambling hub has been complacent with cross-border gambling with unlicensed operators from China.

Chinese officials have refuted claims that the Yatai New City project is part of the country's Belt & Road initiative. 

Furthermore, China vowed support for the Myanmar government in identifying the parties responsible for running illegal gambling operations from the country.

Fincy had seen itself forced to quit Myanmar's Yatai New City project because of the increasing uncertainty about the initiative's integrity.

Just before quitting, Myanmar accused Fincy of blocking authorities' ability to track financial transactions in Yatai, a claim that Fincy has vehemently argued against.

China has been particularly sensitive to foreign operators trying to target its residents.

The country has been looking to actively crack down on wrongdoing in its own backyard, launching various security initiatives.

Yet, China has also been reaching out other countries and urges action on their part as well.

Chinese nationals may not gamble in the mainland, but many try to circumnavigate these restrictions by becoming complacent with underground gambling and betting rings.

The Chinese government has become increasingly capable of pinpointing illicit activities.

In the meantime, Asia has been a developing market for online casinos, and specifically blockchain operators.

Brands such as Bitcasino, BitStarz and CasinoFair have been successful in the region.

In fact, FunFair launched a Japanese localisation earlier this year as Japan is one of its priority markets.

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Written by David

Co-founder

David is co-founder of CryptoGamblingNews.com, and has worked in the crypto gambling space since 2015.

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