Crypto news

This week, besides the elections - which demonstrated that some declarations are punishable by the citizens who vote, and that some of the new Legislative Assembly members appointed by the Chief Executive seem not to have the capacity to, with all due respect, be the doormen of the building - we have had crypto news, a new means of payment (allegedly for the casinos) which is not within the scope of the Monetary Authority. I did not have access to all the details. But it is evident that something is wrong in Macau and must be stopped before it is too late.
The way to get around the law and what is established is sometimes difficult for some to comprehend. Crypto currency is not a commodity but rather a means of payment which should be regulated and supervised by AMCM. Macau has this amazing power of surprising us. What we consider to be a Rule of Law system may be in cause with analysis of departments which cannot understand what is a means of payment and a way of raising capital for what should be the most regulated and supervised activity in Macau: gaming and gaming promotion activity.
New ways of increasing Macau as the ‘biggest’ jurisdiction in the world should always be welcome. Start-ups should (and do) have incentives from the government, but always in accordance with the law. Let’s see what the reaction is of the mother People’s Republic of China, as, in the end, it will be them who authorise or not this initiative.
Those who have had the opportunity to give me the pleasure to know them understand that I am a liberal who considers that the market should rule above any other supreme rule. But the market itself should be regulated enough to inspire confidence and trust from the people who invest in the casinos and in all other ancillary activities. The Wild West is two centuries distant and existed in another latitude. My feeling is that Macau is transforming itself into a no-rule place. With all the ensuing bad consequences for our economy which that implies.