Digital Yuan to Help Macau Rebuild Casinos
Macau, the administrative region of China, is in distress. Casinos that bring the lion's share of revenue are idle due to the pandemic
The authorities have come up with a cunning way to get out of the crisis. They plan to use a digital yuan. It can normalise the economy that has been shaken by the Covid-19, and activate casinos and other businesses affected by the pandemic.
Macau regulators plan to work closely with the Central Bank of China. Casino operators will discuss the possibility of using digital assets to buy chips at the casino.
As long as the picture does not add up. There are some missing details in this scheme, but the authorities hope to quickly establish the use of cryptocurrency in the field of gambling.
Analysts have so far refrained from commenting. On the one hand, if chips in a casino can be bought only for a digital yuan, you can control the scope of gambling. This will help fight money laundering, corruption,and tax evasion.
On the other hand, of course, it is unprofitable for intermediaries. For the long term, however, this may be really beneficial for the region. That's what Sanford C. Bernstein analysts think. Let's see what happens.
Remind you that you don't have to go to Macau to play Black Jack or roulette. Dozens of classic games can be found on the BitStarz website.
We do not give investment advice, but publish material for informational purposes. Be careful, and let you be lucky!