Macau forbids banks and services to aid ICOs

Macau, the autonomous and self-governing region belonging to China, has forbidden the banks and payment services of the country to take part in the ICOs. The restriction was announced by the Macau Monetary Authority (MMA), the main financial regulator in this region.

No surprise in this decision as in China, ICOs were recently banned, although some believe that the ban is temporary. The official statement tells: recent issuance of tokens, a part of any initial coin offering, has attracted the MMA’s attention and they specifically order not to participate in or provide any financial services for those activities.

In other news from Southeast Asia, Japanese regulative authorities started to pay more attention to cryptocurrency activities in the country after warning about this in a statement. The reason for this might be that recently, after China banned ICOs, many Chinese companies fled to the Japanese market and now the authorities have taken this measure for better understanding of the market situation. South Korean authorities are currently monitoring the crypto market as well.