enero 19, 2018 | Posted in:Blog
The AMCM Informed Local Financial Institutions That They Must Not»Participate in or Provide… Financial Services Related to [Virtual Currencies]»
Macau’s ban on financial institutions providing services to firms was triggered by the current cryptocurrency crackdown of China. The Monetary Authority of Macau states that»because of recent happenings of funding activities through issuance of tokens in the Mainland, financial institutions and on-bank payment institutions are prohibited explicitly by Mainland authorities from providing services for these tokens and virtual currencies.»
Macau known as the People’s Republic of China’s Macao Special Administrative Region, is a sovereign land administered under Chinese sovereigntybest bitcoin casino guide best bitcoin casino no deposit bonus In Macau, unlike China, making the territory a hub for gambling and casinos gambling is legal. Macau has become the subject of a crackdown on money laundering by Beijing, with Chinese authorities moving to closely monitor capital outflows into the territory — including the introduction of ATMs that scan for recognition and identity card checks during cash withdrawals throughout Macau.
According to Reuters China, the AMCM said that»in light of the recent emergence of a large number of inward currency issuance financing activities, speculation in speculation, the mainland ministries have prohibited financial institutions and non-bank payment agencies to offer financing for the currency and virtual money and bitcoin live casino no deposit bonus.» Macau’s financial regulator also stated that it had sent a»letter to all banks and payment institutions in Macao, shouldn’t directly or indirectly take part in or provide any financial services related to [virtual currencies].»
The Macau Dragon Corp.. Is Conducting an ICO to Finance the Development of a Casino
Macau’s ban on financial institutions providing services to virtual money companies comes during the exact same week that Macau-based gaming company, Dragon Corp., launched a first coin offering to raise $500 million USD to the building of a casino in partnership with Thai-based Wi Holding. The CEO of Wi Holding, Chakrit Ahmad, told CNBC that the crowdsale will include»the first time anybody has enabled the public to invest in a public junket or become a shareholder of a casino.» Despite Dragon Corp casino set to be assembled in Macau, the ICO will not be subject to the crackdown of Macau due to this crowdsale being issued in Hong Kong.
Dragon Corp’s crowdsale has generated controversy in China, as the 61-year old former-boss of infamous criminal organization Triad Society, Wan Kuok-Koi, was photographed at the signing ceremony for the partnership between Dragon Corp. and Wi Holding.
Do you believe that Dragon Corp.’s ICO will successfully evade Chinese and Macau regulators? Share your thoughts in the comments section below!
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