A new law regulating Macau’s currency issuance has come into effect, giving digital currency the same legal status as traditional money in the Chinese special administrative region.

The new legal framework, proposed by the Macau government, became effective on September 1, after being approved by the SAR’s legislative assembly in June. It replaces the old regime set up in 1995, when the territory was still a colony of Portugal.

Authorities have said it was necessary to update the law to