Macau May Become Proving Ground for China’s Digital Yuan

The year 2022 is going to bring about a number of changes to Macau’s gambling industry. One of the most notable could be the inclusion of China’s central bank digital currency (CBDC), the digital yuan.

The new year is going to bring new gambling laws and new concessions to Macau’s casinos. If a report by Reuters is accurate, it could also bring the introduction of China’s state-run cryptocurrency.

The digital yuan has already begun its path toward acceptance in China, with a number of isolated tests introduced. However, if it were rolled out in Macau, it would be the first instance of the currency being used in an ecosystem outside the mainland.

Macau’s gaming regulator stated previously that it wasn’t thrilled about the idea of bringing in the digital yuan. However, at this point, with China exerting more pressure on the SAR, the decision may be out of the regulator’s hands.

While watchdogs have much to win, and operators have less to lose, 2022 will be the year the new currency comes to casinos,” Reuters journalist Katrina Hamlin states.

China views the digital yuan as a possible solution to illicit money operations and the outflow of hundreds of millions of dollars beyond its borders.

https://www.casino.org/news/macau-may-become-proving-ground-for-chinas-digital-yuan/