macau

According to Macao Radio, a local woman in Macao was induced by netizens to invest in virtual currency. Starting from mid-September, she transferred money to a designated account in 8 installments. The platform had previously shown "paper profits of 7.9 million yuan," but when she attempted to withdraw, she was asked to pay a "currency exchange difference" of 250,000 yuan first. After that, she lost contact with the platform and ultimately confirmed that she had been scammed out of 1.18 million yuan.

ChainCatcher news, according to the Macao Daily News, the Macao Monetary Authority stated that the "Digital Macao Pataca" has built a prototype system, and the first phase of research and development is expected to be completed by the end of this year.Ye Guiping, director of the Macao Centre for Socio-Economic Development at City University of Macao, stated that in line with the positioning of the Macao Chinese-Portuguese platform, the digital Macao Pataca platform's connection with the mainland platform has become inevitable.

ChainCatcher news, according to Jinshi reports, the acting chairman of the Administrative Management Committee of the Macao Monetary Authority, Huang Shanwen, stated on August 30 at the 7th Guangdong-Hong Kong-Macao Greater Bay Area Financial Development Forum that Macao is actively promoting the construction of the "Digital Macao Pataca" project, planning to launch sandbox testing by the end of the year, and strengthening data and digital renminbi connectivity with banks. In the future, it will achieve interconnectivity of data currency between the Greater Bay Area and Macao, promoting financial innovation and collaborative development.

ChainCatcher news, Liu Peng, CEO of JD Coin Chain Technology, recently revealed in an exclusive interview with Bloomberg Businessweek/Chinese Edition that JD's Hong Kong and Macau self-operated e-commerce will soon support stablecoin shopping. JD Coin Chain plans to obtain a license in early Q4 2025 and simultaneously launch stablecoins pegged to the Hong Kong dollar and other currencies. The company is currently testing in the Hong Kong Monetary Authority's stablecoin issuer sandbox, focusing on the application of stablecoins in three major scenarios: cross-border payments, investment transactions, and retail payments.Liu Peng stated that stablecoins will serve as a new financial infrastructure in the Web 3 era, with advantages such as reducing transfer times from days to seconds and cutting costs by at least half compared to traditional transfers, and are expected to play a "disruptive" role in scenarios like international trade.

ChainCatcher news, according to Jinshi reports, the People's Bank of China and four other departments jointly issued the "Opinions on Promoting Institutional Opening in the Financial Sector in Conditional Free Trade Pilot Zones (Ports) to Align with International High Standards." The "Opinions" propose 20 policy measures in six areas: allowing foreign financial institutions to provide similar new financial services as domestic financial institutions, making decisions on applications for related services by financial institutions within 120 days, supporting the legal cross-border purchase of certain types of overseas financial services, facilitating foreign investors' investment in related transfers in and out, improving arrangements for the cross-border flow of financial data, and comprehensively strengthening financial regulation.These include continuously optimizing the "Cross-Border Wealth Management Connect" pilot in the Guangdong-Hong Kong-Macao Greater Bay Area, supporting residents in the Greater Bay Area to purchase qualified investment products sold by Hong Kong and Macao financial institutions through these institutions, and expanding the scope of participating institutions and qualified investment products.

ChainCatcher news, according to Yicai, the Monetary Authority of Macao has officially released the "White Paper on the Digital Macao Pataca" and publicly demonstrated the prototype system for the digital Macao Pataca.The Secretary for Economy and Finance of Macao, Lei Wai Nong, announced that with the support of the People's Bank of China, the Macao SAR has successfully built a prototype system for the digital Macao Pataca (e-MOP), laying the necessary foundation for the future development of the digital Macao Pataca.The Chairman of the Administrative Committee of the Monetary Authority of Macao, Chan Sou-kin, introduced that the digital Macao Pataca, as the legal tender of the Macao SAR, has the same legal status and value as banknotes and coins, is fully backed by 100% reserves, and has full legal tender status.

ChainCatcher news, the President of the Monetary Authority of Macao, Chan Sau San, revealed the preliminary plan to launch a "Digital Macanese Pataca" in both soft and hard wallet forms. The "hard wallet" can take the form of a "card" and may even be integrated with smart devices, making it convenient for the elderly and children to use; the "soft wallet" will be launched as a mobile application.Chan Sau San stated that the "Digital Macanese Pataca" will have the same legal status as cash, and scenarios where cash is used can be applicable for payment with the "Digital Macanese Pataca." The wholesale level of the "Digital Macanese Pataca" is primarily intended for regulated financial institutions, involving applications for transfers and financial transaction settlements.

ChainCatcher news, according to an official announcement from Binance, Binance has recently been invited to collaborate with the Macau Judicial Police to hold its first face-to-face law enforcement training course in Macau. This training was led by Binance's investigation team, with over 40 representatives from the Macau Judicial Police's Criminal Investigation Department and the Economic Crime Investigation Department related to gambling participating. The training held on May 21 is an important step in strengthening cooperation with the law enforcement community in the Macau region.In 2023 alone, Binance has hosted over 120 online and offline law enforcement training sessions or seminars globally. Last month, Binance held its first-ever online Law Enforcement Training Day, with over 1,300 law enforcement officers from around the world participating in the training.

ChainCatcher news reports that the virtual asset platform JPEX is suspected of conspiracy to commit fraud, with a total of 15 people arrested so far. It is reported that Hong Kong and Macau have joined forces to carry out actions to arrest more individuals, with some being apprehended in Macau. The Hong Kong police will hold a press conference this afternoon to provide details.As of Wednesday (September 27) at 5 PM, the Hong Kong police have received reports from 2,407 victims, involving an amount of approximately HKD 1.499 billion.

ChainCatcher news, according to the Macao SAR Executive Council on the 14th, the discussion on the draft law of the "Legal System for the Establishment and Issuance of Currency" has been completed, and the relevant bill will be submitted to the Legislative Assembly for deliberation. The bill proposes that Macao's legal tender includes not only traditional types of banknotes and coins but also digital forms of currency, granting them equal status, and the relevant system will be regulated by special legislation.It was introduced that, given that the current regulation on the issuance of currency, Decree No. 7/95/M, has been in effect for over 27 years, in order to improve the legal system for the establishment and issuance of currency in the Macao SAR and to connect with the economic environment and legal systems of mainland China and Hong Kong, the SAR government has formulated the "Legal System for the Establishment and Issuance of Currency" bill.Earlier in June, the Secretary for Economy and Finance of Macao, Lei Wai Nong, stated that he would continue to communicate with relevant ministries and research institutions to explore the introduction of central bank digital currency into Macao. (source link)