Macau Regulator Warns Community of Gangster-Backed Dragon Coin ICO

Sign up for our neighborhood of 10 000 traders on for just $39 for each month.

Cambridge Analytica’s former worker, Brittany Kaiser, has revealed that the British info analytics company was also doing the job with information mining company Macau Dragon Group. The latter is also recognized as Dragon Corporation and is backed by gangster Wan Kuok-koi “Broken Tooth” he was beforehand the gang leader of ex-14K triad. The information of their involvement came past 7 days, and in turn, financial officials from Macau issued cryptocurrency crime warnings.

Cambridge Analytica’s whistleblower thorough the company’s actions to get hold of person facts from Fb for the U.S. President Donald Trump’s 2016 election marketing campaign. Right after Kuok-koi’s existence was mentioned in the crypto community, people today turned anxious and lots of claimed that regulations would support stay clear of this sort of functions in the future. Cambridge Analytica aided Dragon Company in advertising its $500 million ICO scheduled for subsequent thirty day period. Both the providers were being also planning to work on a technique that would permit people to market their personal knowledge to advertisers.

Soon after news internet sites claimed the tale, the Monetary Authority of Macau introduced a assertion that coated the most up-to-date functions along with a warning.

The media has reported that a Macau company was involved in an ICO [initial coin offering] not long ago. Financial Authority of Macau reminds all Macau citizens that cryptocurrencies are digital merchandise, but not legal currencies or economical equipment. Citizens should be aware of fraud and felony functions affiliated with cryptocurrencies.

The authority also reminded people that virtual currencies didn’t drop less than the Financial Process Act (FSA) of 1993.

Monetary Authority of Macau reiterates that any establishment giving regulated economic solutions these kinds of as forex exchange, cross-border fund transfer and money exchange platforms without permission violates relevant provisions of the Fiscal Program Act.

Thus, crypto businesses in Macau will not receive any assist from fiscal establishments in the future. Nevertheless, some folks have pointed out that no guidelines have been handed towards casinos building ICOs.

Highlighted impression from Shutterstock.


Leave a Reply