Macau Financial Secretary: Explore opening up virtual asset activities under controllable risks

Macau's Secretary for Economy and Finance, Lei Wai Nong, responded to questions from local legislators Kou Hoi In and Si Ka Lon yesterday, stating that under current regulatory policies, all financial institutions in Macau are not allowed to directly or indirectly provide any financial services related to virtual assets. The Macau Interdepartmental Working Group on Anti-Money Laundering and Countering the Financing of Terrorism will continue to follow the development of related businesses and international trends, explore whether certain types of virtual asset activities can be opened under controllable risks, and formulate or revise relevant laws, regulations, and regulatory guidelines.

The Macau government does not plan to invest billions of yuan in the metaverse, but instead will fund technology companies to settle in Macau through the Technology Fund and create job opportunities. Currently, the Hengqin government will first establish a guidance fund, and then combine government funding and market funds to assist technology and innovation companies.