The government refuted the contents of a recent video going viral on social media platforms. In the video, Chief Executive Ho Iat Seng apparently discusses how he achieved wealth through cryptocurrency transactions. “The government hereby clarifies that the content of the video is false and that the Chief Executive never conducted such an interview nor made such claims at any interview,” the government declared in the statement. As a follow-up, the case has been reported to the police.
Meanwhile, the Monetary Authority of Macao (AMCM) has reminded the public in a statement that “cryptocurrency is neither legal tender nor a legal financial tool, but rather a virtual commodity of highly speculative nature.”
It added that cryptocurrency transactions are highly risky and not subject to regulatory oversight or otherwise supervised by the AMCM. Members of the public should remain vigilant against instances of fraud and other illegalities. The AMCM has also ordered local banks and financial institutions to refrain from facilitating cryptocurrency transactions or the provision of related financial services directly or indirectly. It stressed that it is against the law to provide financial services without permission from the local authority.
