Macau authorities are planning to use the new Chinese cryptocurrency to help Beijing prevent money laundering. Also, it would deal a blow to Macau casino junkets. Junket operators attract high rollers to Macau. However, junket operators have been losing customers after Beijing implemented stricter control of the cross-border flow of funds. Since the crackdown on cross-border funds, China arrested thousands of people. As a result, long-time junket customers withdrew their money. Operators suffered from liquidity problems. According to sports betting software reports, the new cryptocurrency would kill the junket industry…
Read MoreChinese Cryptocurrency a Blow to Macau Casino Junkets
