There is a $500 million ICO to build a floating cryptocurrency casino in MacauJim Edwards, Business Insider · November 17, 2017 at 3:43 pmSome people think that cryptocurrency initial coin offerings (ICOs) are a bit of a gamble. Here is one that is 100% gambling: Dragon Corp. tells Business Insider it is raising $500 million (£377 million) in an ICO that will give its buyers cryptocurrency coins that can be exchanged for non-negotiable gambling chips in a yet-to-be-built casino that will float at a dockside in Macau.Buyers won’t get equity in the casino. Just gambling chip tokens.Needless to say, there are some risks. The territory of Macau has not authorised Bitcoin services, China recently banned ICOs, and gambling debts are not enforceable under Chinese law. The company is registered in the British Virgin Islands, the jurisdiction where investors will have to file if legal disputes arise.So the regulatory framework is … complicated.