Triads involvement in Crypto Was a reason of China Ban ICO?

Hi, Dear Steemians Friends

Today I want to talk about some news that is circulating inside East Asia about last year Chinese ban on bitcoin, ICO, and exchanges. Time passes, laws changed, and news circulating in authorized services. All of you may remember last year "China bans" and how much it has affected the market. Today, some pieces of information start circulating about one of the big reasons for this ban to happen. It seems that the Chinese organized crime syndicate also called the "Triads" or Chinese Mafia was part of the reasons that pushed Chinese government to make this ban on crypto, ICO, and exchanges. The 14K Triads, the second world biggest Triad in the world after the Sun Yee On Triad as raised concerns with the Chinese government. The 14K Triad count more than 25 000 members all over the world, but their main bases are Hong Kong, Macao, Taiwan and countries of South East Asia. Their main activities are drugs (all over the world), arms trafficking, extortion, prostitution, illegal gambling, counterfeiting, human trafficking, arson, frauds, money laundering, murders, kidnapping, hacking, racketeering and much more as well as legal businesses. Their financial weight is a multi-billion dollar organization. In 1999 the Dragon head of 14K Macao (the boss) Wan Kuok-Koi aka "broken tooth" was sent to prison for 15 years on various criminal charges. He gets a release in January 2012. Tyrone Siu a multi-million dollar cryptocurrency share has offer via a Macao based company to back up Wan Kuok-Koi and has planned to launch an ICO in Hong Kong about a Casino crypto bringing the blockchain to the world richest gambling hub and connected to the junket operators in Macao owned by triads. They set the goal to raise 500 million $ with the ICO. This project was set by two companies the Dragon Group from Macao and the WI holdings LTD a Thailand based company. These two companies are now under close watch from authorities for their connection to the 14K Triads Dragon head. The South China Morning Post has published some pictures of the signing ceremony between the two companies showing Wan Kuok-Koi friendly attitude with the CEO of both companies. This raised concern with Beijing government as it shows that 14K and other Triads may use cryptocurrency for money laundering at a huge scale. The government reacted very quickly with the ban of ICO. Today, the investments of Triads into IT is under very close scrutiny all over the world. But the power of the Triads and their links to all levels of society make it impossible to track the funds. Hong Kong and Macao authorities stay silent about the subject. Triads are parts of Chinese tradition going back more than 3000 years ago and often seen as a necessary way to counter authoritarian power.

Love and Happiness

@ricko66