Chinese consumers for bet payments at the Macau Game Floor

Zhou Jinquan, a local gametologist at Macau Polytechnic University, suggested that it contains concerns about whether mainland consumers have the right to privacy from mainland authorities’ scrutiny if they make such a deal.

China’s digital currency user system is “linked to real-name accounts and users’ transaction records can be tracked by financial regulators. From the government’s point of view, the adoption of digital currencies is good because it helps monitoring work for anti-money laundering purposes,” Zhou told GGRASIA.

Mr Zhou added that even assuming Macau will continue to have VIP gambling customers of any kind in the future, “privacy concerns” could make digital currency transactions “potentially unattractive” to such players. He also questioned whether China’s use of the digital yuan could appeal to popular game customers as well.

Ricardo Siouxishen, a business economist at the University of Macau, raised the issue with GGRAcia. It was some form of storage value renminbi display card that could be used for offline payment in Macau Casino. It will have to be regulated on the Macao side, on the Mainland side, or both.

Currently, most Macau casino bets are displayed in Hong Kong dollar print, a fixed currency in the US dollar, but many investment analysts argued that Macau casinos are likely to offer digital yuan bets as a way to improve business efficiency despite confidentiality issues. In recent years, most Macau casino customers are from mainland China. 파친코

The Macau government intends to introduce a general legal concept for digital currencies as part of its amendment to Statute No. 7/95/M, known as “Definition of Currency Issuance System in Macao Territory”. This follows remarks made at the plenary session at the end of May by Lei Wei-Nong, director of the Economic and Finance Bureau, at the city council. Ray said at the time that the revision was part of this year’s legislative agenda. During the May session, Mr Ray noted that the city needs to have a “financial infrastructure” to accommodate the exchange mechanism between the Macau currency Pataka and “other digital currencies.”

Benjamin Chan, chairman of the Macau Monetary Authority, also indicated at the same meeting that his department would continue to work with mainland authorities and financial institutions to “explore” the use and development of “central bank digital currencies” in Macau. He did not specify whether it meant China’s central bank or Macau’s monetary authorities.

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