{"id":9185,"date":"2024-10-10T14:52:45","date_gmt":"2024-10-10T14:52:45","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/?post_type=asia&#038;p=9185"},"modified":"2024-10-10T14:52:46","modified_gmt":"2024-10-10T14:52:46","slug":"macau-to-study-feasibility-of-digital-currency-in-potential-threat-to-casinos-in-worlds-biggest-gambling-hub","status":"publish","type":"asia","link":"https:\/\/www.mundovideo.com.co\/en\/asia\/macau-to-study-feasibility-of-digital-currency-in-potential-threat-to-casinos-in-worlds-biggest-gambling-hub\/","title":{"rendered":"Macau to \u2018study feasibility\u2019 of digital currency in potential threat to casinos in world\u2019s biggest gambling hub"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>HKD dominant in Macau casinos.<\/strong> Patacas are the official currency of Macau, although Hong Kong dollars are most often used in casino transactions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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\u2019s biggest gambling hub.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/mundovideo.com.co\/landing\/multigame-link\/\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/www.mundovideo.com.co\/assets\/video-pop-up-maquinas-instaladas.jpg\" alt=\"Mundo Video\"\/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">China\u2019s plan for a digital renminbi, or yuan, is seen as a way to curb money laundering, tax evasion and terrorism financing. According to analysts , gaming experts believe \u201cBeijing would welcome renminbi play in Macau, digital RMB would mitigate what Beijing sees as the most harmful financial side effect of Macau casinos: capital flight through illegal funds transfers from the mainland,\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.mundovideo.com.co\/assets\/international\/macau-to-study-feasibility-of-digital-currency-in-potential-threat-to-casinos-in-worlds-biggest-gambling-hub2.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">VIP volumes have dwindled due to crackdowns on cross-border gambling and illicit money exchanges. But big spenders are still spending big, as indicated by a recent Citigroup study.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The table survey showed a marked increase in average wagers by VIP gamblers. Through September, 228 so-called \u201cwhales\u201d wagered a total of HK$43.3m (\u00a34.8m\/\u20ac5.8m\/$6.5m), up 43% over the same period in 2023.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The People\u2019s Bank of China has trialled a digital yuan in several cities, putting it on track to be the first major central bank to issue a virtual currency. A broader roll-out is expected for the Winter Olympics in Beijing in February 2022, giving the effort international exposure. The development of a digital yuan hasraised US concerns of a potential threat to topple the US dollar as the world\u2019s reserve currency in the long term.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HKD dominant in Macau casinos. Patacas are the official currency of Macau, although Hong Kong dollars are most often used in casino transactions. 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\u2019s biggest gambling hub. China\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9186,"menu_order":161,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[4668,4666,4667],"class_list":["post-9185","asia","type-asia","status-publish","format-standard","has-post-thumbnail","tag-chinese-central-bank","tag-digital-yuan","tag-rmb-yuan-virtual","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Macau to \u2018study feasibility\u2019 of digital currency in potential threat to casinos in world\u2019s biggest gambling hub - Mundo Video Entertainment | Casino News in Latin America and the World<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mundovideo.com.co\/en\/asia\/macau-to-study-feasibility-of-digital-currency-in-potential-threat-to-casinos-in-worlds-biggest-gambling-hub\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macau to \u2018study feasibility\u2019 of digital currency in potential threat to casinos in world\u2019s biggest gambling hub - Mundo Video Entertainment | Casino News in Latin America and the World\" \/>\n<meta property=\"og:description\" content=\"HKD dominant in Macau casinos. 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