16 October 2018
A bitcoin ATM inside a Las Vegas casino. Getty Images/AFP
A bitcoin ATM inside a Las Vegas casino. Getty Images/AFP

Mainland gamblers can use bitcoin kiosks to get cash in Macau

Bitcoin kiosks will be set up in Macau by July 1, making it easier for mainland visitors to the gambling center to circumvent regulations and get more cash, Sing Tao Daily reported Monday.

Users who have mobile phones equipped with the bitcoin e-wallet application can make bitcoin deposits and cash withdrawals at the kiosks at any time after paying the transaction fee. As mainland visitors are only allowed to bring up to 20,000 yuan (US$3,219.04) in cash when they go abroad, they could deposit extra amounts at a bitcoin kiosk before going to Macau. 

Coinnect, a Hong Kong-based bitcoin kiosk distributor, said several of its machines will be set up in Macau for public use later this month.

Macau authorities have ordered casino operators to remove all automated teller machines that accept UnionPay cards from July 1 and asked jewelry shops and other luxury retail outlets near casinos not to sell their products to those using UnionPay cards to prevent people from re-selling them for cash.

There are now two bitcoin kiosks in Hong Kong, one in Sham Shui Po and another in Mong Kok. One outlet was also set up in Shanghai in April.

The Monetary Authority of Macao did not reply when asked for comments about the bitcoin kiosks.

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