The Macau Monetary Authority (AMCM) urged local banks and other payment institutions yesterday to refrain from providing services of initial coin offerings (ICOs) and cryptocurrencies.
According to an AMCM statement, it “issued a notice last week “to remind all the banking and payment institutions in Macau not to participate in or provide, directly or indirectly, any financial services for Bitcoin or other cryptocurrencies”.
The statement also pointed out that “due to recent happenings of financing activities through issuance of tokens in the mainland, financial institutions and non-bank payment institutions have been prohibited explicitly by the mainland authorities from providing services for these tokens and virtual currencies”.
