Ministry of Finance of Macau issues a warning on crypto on criminal relations with ICO

Ministry of Finance of Macau issues a warning on crypto on criminal relations with ICO


The Monetary Authority  of Macau published warning of public of possibility of “swindle and criminal activity” in cryptocurrencies, South Morning Post reports on April, 20.

Warning comes on heels revelations that Macua Dragon Group, firm related to the Chinese gangster by Wan Kuokoi, Cambridge Analytica used for advancement of Dragon Coin, new virtual currency for players, to translate money in the casino of Macau. Wan, as reported, conducted more than ten years in clink for different crimes, including heading the group of triad “14k” in Macau. In a statement talked:

“The mass-media reported that recently a company Macau participated in the Initial Coin Offering (ICO). The Monetary Authority of Macau reminds to all Macau, that cryptocurrencies are virtual products, but not legal currencies or financial instruments. Lodgers must know about a swindle and criminal activity related to the cryptocurrencies”.

The direct or indirect participating is forbidden jars and pay establishments in the grant of services for an exchange by cryptocurrencies in accordance with the money rules of Macau, but there are not rules, limiting ICO in private industry of casino. Money power made impression on illegality of digital assets public in the statement:

“The Monetary Authority of Macau repeats, that any establishment giving the managed financial services, such as an exchange of currency, transfrontal transfer of costs and platform of financial exchange, without permission violates the corresponding Law provisions about the financial system”.

Approximately at this time Commission on securities and futures in Hong Kong warned investors, that tokens produced through ICO can be classified as securities, and said that SFC had been “disturbed by the increase of the use of ICO for collection of facilities in Hong Kong and other places”.

As reported, Cambridge Analytica plans to produce  its own digital currency, before to participate in scandal in regard to abuse of data from Facebook. Sources said that an agency on analytic geometry of data sought advice to the firm, that accedes to that, how structure ICO.

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