Improving Macau’s Legal System
An executive council of Macau, an autonomous region on China’s south coast, recently completed discussing the draft bill proposing to include digital forms of currency in its basket of financial instruments that are accepted as legal tender. As explained in the China News Service report, the bill is now set to be forwarded to the legislative council for further deliberations.
According to the report, Macau’s draft bill, also known as the Legal System for the Establishment and Issuance of Currency, not only seeks to improve the current legal system but to also ensure digital money and other forms of money have “equal status.”
