Macau | G2E Asia Fintech segment does not go against local regulations - Organisers

The company behind Global Gaming Expo (G2E) Asia told MNA that its proposed new Fintech segment for this year's gaming expo does not breach any Macau SAR regulations by promoting the use of blockchain technology in the gaming sector, with any use of virtual currency or cryptocurrency to not be promoted in the expo

Macau (MNA) – Reed Exhibitions, the company behind Global Gaming Expo (G2E) Asia told Macau News Agency (MNA) – its proposed new Fintech segment for this year’s gaming expo does not breach any Macau SAR regulations for promoting the use of blockchain technology.

Last week, the company announced it would partner with Hong Kong company Blockchain Labs Co., Limited to help organise a Financial Technology Asia segment in the 13th edition of G2E Asia held between May 21 and 23.

Th focus of this new section as described by the company would be in connecting financial professionals from casinos and gaming platforms with new blockchain, cloud, cybersecurity and payment technology solutions.

However with blockchain technology being behind cryptocurrency projects and with the Monetary Authority of Macau (AMCM) and with the Gaming Inspection and Co-ordination Bureau (DICJ) having previously raised an opposing stance towards cryptocurrency some doubts were raised if connecting gaming with blockchain could lead to the opposition of the Macau government.

The COO of Reed Exhibitions, Josephine Lee, previously stated the use of cryptocurrency for gaming will not be promoted in the Fintech event, only the possible use of blockchain technology in the sector.

In a response to MNA after the new segment announcement, the DICJ indicated that any technology that can be used for gaming transactions has to be approved by local gaming authorities and that it would contact the G2E organisers to remind them to enforce measures that assure that all participants in the conference follow Macau regulations.

Inquired by MNA, Reeds Exhibitions stated that ‘as the organizer of G2E Asia, we would like to stress that none of the activities and events that are being organized for G2E Asia 2019 could be found in breach of Macau SAR laws’.

‘We will continue to comply strictly with the instructions of Macau SAR regulatory authorities, including AMCM and DICJ, and, as such, continue to take all necessary measures to prohibit any activities, promotion and display of any products and services during G2E Asia 2019 that to be associated with virtual currency or virtual instrument,’ the response added.

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