Share this article
Macau Finance Regulator Bars Banks from ICO Market
Macau's financial regulator has ordered all banks and payment services in the region to not provide services for initial coin offerings.
Updated Sep 13, 2021, 6:58 a.m. Published Sep 27, 2017, 3:15 p.m.
Macau's top financial regulator has barred banks and payments providers in the region from providing services to initial coin offerings (ICOs) and cryptocurrencies.
In a statement, the Macau Monetary Authority (MMA) announced today that these companies cannot engage with bitcoin or other cryptocurrencies either "directly or indirectly." Macau, like Hong Kong, is an autonomous administrative region within China.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The directive corresponds with recent moves by Chinese regulators to crack down on ICOs, declaring the funding model to constitute a form of illegal fundraising.
The announcement from the MMA states:
"Due to recent happenings of financing activities through issuance of tokens in the Mainland, financial institutions and non-bank payment institutions are prohibited explicitly by Mainland authorities from providing services for these tokens and virtual currencies. At the same time, this Authority also issued a notice on 20 September 2017 to remind all the banking and payment institutions in Macao not to participate in or provide, directly or indirectly, any financial services for the related activities."
The release further points to an earlier 2014 analysis by the agency, which stated that bitcoin is neither regulated nor a legal currency.
"Any trading of these commodities involves considerable risks, including but not limited to those relating to money laundering and terrorism financing, against which all participants should remain vigilant," the MMA wrote.
Macau via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Internet Computer climbs back to $3 as short-term momentum improves
ICP pushed above the $3 level on rising activity, holding recent gains as traders reassess near-term direction.
What to know:
- ICP rose about 2.7% to roughly $3.00, reclaiming a closely watched psychological level.
- Trading activity increased during the move higher, accompanying the push through resistance near $2.95–$3.00.
- Price has since stabilized just above $3, keeping attention on whether the level can hold as near-term support.
Top Stories
