First bitcoin kiosks at Sands Macao
Machines can dispense up to 6,800 notes at a time. Industry insiders said that for the time being the machine only provides patacas and the highest denomination in patacas in circulation is worth USD 125.
Mr. Lam stated: “It’s up to the operator of the kiosk what denominations and what transactions are configured.” The Monetary Authority of Macau said last week that bitcoins are neither legal tender in Macau nor a financial instrument subject to the authority’s supervision.
Casinos in Macau are required to report to the Gaming Inspection and Coordination Bureau all high value transactions via the casino cage or gaming table worth more than USD 62,615.
Chinese-language news site sina.com.hk reported that biometric security – via fingerprint recognition and facial photography – was due to be installed on the bitcoin machine at Sands Macao to record the identity of the person making the transaction, but was not presently on it.
Patrick Lam of Coinnect told: “As far as I know, the kiosk has the capability for biometric security, but you would need to speak to the shop concerned about the details of what they have in place.”
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