Is Crypto Legal in Macao?

Cryptocurrency is not legal in Macao, as the Monetary Authority of Macao has prohibited financial institutions from providing services related to virtual currencies. In September 2017, the Authority issued a notice reminding all banking and payment institutions in Macao not to participate in or provide, directly or indirectly, any financial services for activities related to virtual currencies and tokens (1). Bitcoin is classified as a virtual commodity which is neither legal tender nor a financial instrument subject to supervision (1).

The Monetary Authority considers trading in virtual commodities as involving considerable risks, including but not limited to those relating to money laundering and terrorism financing (1). Any institution that provides regulated financial services such as currency exchange, cross-border fund transfer, or the provision of financial trading platforms for cryptocurrencies violates the relevant provisions of the Financial System Act (1). This regulatory approach follows policies implemented by mainland China authorities, which explicitly prohibited financial institutions from providing services for tokens and virtual currencies (1).

"Bitcoin is a type of virtual commodity which is neither a legal tender nor a financial instrument subject to supervision. Any trading of these commodities involves considerable risks."

While cryptocurrency remains prohibited, Macao is developing its own central bank digital currency called the e-MOP or digital pataca (2). In December 2024, the Monetary Authority published a white paper noting that the emergence of cryptocurrencies and digital assets has accelerated the pace of CBDC development (2). With support from the People's Bank of China, Macao established a three-step plan for CBDC implementation, though only the first step was completed as of December 2024 (2).

Source:
https://www.gov.mo/en/news/74177/
https://cbdctracker.hrf.org/currency/macao

Last updated: 19-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.