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

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 Supply… Financial Services Related to [Virtual Currencies]»

The ban on financial institutions providing services to firms operating with bitcoin of macau has been sparked by the recent cryptocurrency crackdown of China. The Monetary Authority of Macau states that»due to recent happenings of funding activities 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 territory administered under Chinese sovereigntybitcasino review In Macau, unlike China, making the land a regional hub for gambling and casinos, gambling is legal. Macau has recently been the subject of a crackdown on money laundering by Beijing, with authorities moving to closely track capital outflows into the land — such as the introduction of ATMs that scan throughout Macau during cash withdrawals for identity card checks and recognition.

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 banned financial institutions and non-bank payment bureaus to offer financing for the money and digital 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 associations in Macao, should not directly or indirectly participate in or provide any financial services related to [virtual currencies].»

The Macau Dragon Corp.. Is Running an ICO to Fund the Growth 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 for the construction 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 anyone has allowed the public to invest in a public junket or become a shareholder of a casino.» Despite Dragon Corp’s proposed casino set to be constructed in Macau, the ICO will not be subject to the crackdown of Macau because of 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 think that Dragon Corp.’s ICO will successfully evade Chinese and Macau regulators? Share your thoughts in the comments section below!

Pictures courtesy of Shutterstock

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Source: bitcoincasinoreview.net

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