China would be able to follow the money trails wherever they go. A state-provided cryptocurrency wallet would be mandatory for use with the CBDC. This creates records of all transactions in a central repository that can be reviewed at any time.<\/p>\n
It would also give the government the ability to freeze one \u2013 or multiple \u2013 wallets with just a few keystrokes.<\/p>\n
Digital currencies, including bitcoin, stablecoins, and CBDCs, don’t necessarily have to be evil. Just like anything, it’s all in how they’re used.<\/p>\n
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Digital cash, in one form or another, is going to become more prevalent in all industries, including gambling. Star Entertainment in Australia is taking a closer look at digital currencies to make financial and gambling regulators happy.<\/p>\n<\/div>\n
Similar results are found in other jurisdictions as well, including the US. Cashless gaming is beginning to take hold. While solutions such as those offered by Sightline and competitors are not specifically digital currency, they show how easy it is to use digital cash to gamble.<\/p>\n
Wyoming was the first state in the US to legally approve cryptocurrency for sports wagers. Resorts World Las Vegas accepts cryptocurrency, as well.<\/p>\n
The difference between those and China’s solution, though, is they are truly decentralized. China’s digital yuan is completely centralized. The government having greater control over spending than it does with the paper alternative.<\/p>\n","protected":false},"excerpt":{"rendered":"
The year 2022 is going to bring about a number of changes to Macau’s gambling industry. One of the most notable could be the inclusion of China’s central bank digital currency (CBDC), the digital yuan. The new year is going to bring new gambling laws and new concessions to Macau’s casinos. If a report by […]<\/p>\n","protected":false},"author":64,"featured_media":197084,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,24066],"tags":[],"acf":[],"yoast_head":"\n
Macau May Become Proving Ground for China's Digital Yuan - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n