The Macau Dragon Corp Is Conducting an ICO to Finance the Development of a Casino bitcoin casino instant deposit

The AMCM Informed Local Financial Institutions That They Must Not”Participate in or Provide… Financial Services Related to [Virtual Currencies]“

The ban on financial institutions providing services to firms of macau was triggered by the current cryptocurrency crackdown of China. The Monetary Authority of Macau states that”because of recent happenings of financing actions through issuance of tokens from 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 Macao Special Administrative Region of the People’s Republic of China, is an autonomous land administered under Chinese sovereigntybest bitcoin casino deposit bonus bitcoin casino no deposit bonus 2016 usa In Macau, unlike China, making the territory a hub for casinos and gaming gambling is legal. Macau has recently become the subject of a crackdown on money laundering by Beijing, with regulators moving to track capital outflows into the autonomous territory — including the introduction of ATMs that scan for recognition and identity card checks throughout Macau during cash withdrawals.

According to Reuters China, the AMCM said that”in light of the recent emergence of a high number of inward currency issuance financing activities, speculation in speculation, the mainland ministries have prohibited financial institutions and non-bank payment bureaus to offer financing for the currency and virtual currency and bitcoin live casino no deposit bonus.” Macau’s financial regulator also stated that it had sent a”letter to all banks and payment associations in Macao, should not directly or indirectly participate in or provide any financial services associated with [virtual currencies].”

The Macau Dragon Corp.. Is Conducting an ICO to Fund the Development of a Casino

Macau’s ban on financial institutions providing services to virtual currency companies comes during the exact same week that Macau-based gaming company, Dragon Corp., launched a first coin offering to raise $500 million USD for 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 comprise”the first time anyone has enabled the public to invest in a public junket or become a shareholder of a casino.” Despite Dragon Corp’s proposed casino set to be assembled in Macau, the ICO won’t be subject to the crackdown of Macau due to the crowdsale being issued in Hong Kong.

Dragon Corp’s crowdsale has generated controversy in China, since 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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