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Macau plans to use China’s future digital currency could deal a fatal blow
- Friday | 23rd April, 2021
HONG KONG (Reuters) – Macau’s plans to use China’s future digital currency will help Beijing curb money laundering in the world’s top gambling hub but could deal a fatal blow to casino junket operators. Since then, opaque financing channels used by the online gambling sector and Macau’s junket industry have been cut off and tens of thousands of people have been arrested for illicit cross-border gambling. A digital yuan threatens to close remaining avenues the operators could explore to stay in business, industry executives say. The Macau Junket Association could not be immediately reached for comment. DIVERSIFICATIONChina flagged on Sunday plans to expand digital yuan experiments to more cities after testing it last year in Suzhou, Shenzhen, Chengdu and Xiong’an.
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