Macau moves step closer to digital currency in threat to casinos

Macao SAR Chief Executive Ho Iat-seng. - Xinhua

MACAU (Bloomberg): Macau has moved a step closer to the potential introduction of a digital currency as it seeks to better combat money laundering and tax evasion in the world’s biggest gambling hub.

The government plans to amend laws to regulate the issuance of a virtual legal tender, Chief Executive Ho Iat-seng told lawmakers Tuesday (April 13). The government will work with China’s central bank to "study the feasibility of issuing a digital currency, ” he said.