Macau’s Chief Executive Ho Iat Seng has said the government will work closely with China’s China’s central bank on a feasibility study on adopting a digital currency, which will help it to combat money laundering and tax evasion.
The introduction of a digital currency, which is fully traceable, would likely further harm Macau’s struggling VIP sector, posing a major threat to the junkets who act as intermediaries in facilitating the anonymous cross-border flow of funds.
Macau moves closer to digital currency in threat to casinos (Bloomberg)
