Macau regulator distances itself from e-yuan

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Updated September 21, 2022 | Published December 3, 2020

2 mins read

Macau’s Gaming Inspection and Coordination Bureau has refuted a report suggesting that Macau's casinos will adopt a digital yuan, better known as e-yuan.

It had been suggested that the regulator would make it obligatory for gamblers to purchase chips in the digital currency rather than Hong Kong dollars, or any other available currency.

The news circulated following a Bloomberg report which claimed that it had heard from people close to the matter that China will try to introduce its central bank digital currency on Macau's casino floors.

This has since been denied by the regulator, which said that there was no official move to launch the digital yuan anywhere in Macau.

Originally, Bloomberg said that China was looking to clamp down on illegal gambling and to bring more transparency into the sector. Yet, this may not be what the industry needs right now.

Junket Operators: Clean Waters Will Scare the Fish Away

While arguing for a more centralised and transparent gaming industry makes perfect sense, Macau seems to have its limitations, say junket operators.

Eric Leong, a provider of junket services argued that should gamblers be forced to disclose their anonymity, they would not be so willing to travel to Macau and gamble.

Macau and China both seem to be cognizant of the fact. If anything, China wants to clamp down on gambling capital that is flowing out of the country and beyond Macau. The money going to illegal gambling operations online is the main priority of Chinese authorities.

Thankfully, there are many varied alternatives online, such as Bitcasino, 1xBit and FortuneJack Casino.

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Alex

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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