Will Malta legalize bitcoin?

29 Jul 2017

Will Malta legalize bitcoin?Increased speculation has arisen concerning the legalization of digital currencies of MGA licensed online casinos. The Malta Gaming Authority, responsible for regulating sportsbook providers. land based & online casinos in the Mediterranean island has announced it will convene to discuss whether crypto-currency will be accepted.

So, will Malta legalize bitcoin? It appears so, at least according to MGA Executive Chairman Joseph Cuschieri, who believes digital currency presents significant opportunities along with a few risks to the gaming industry. "The shape and form of the framework governing cryptocurrencies will be announced in due course and once the risk assessment is carried out. Once the results of the study are evaluated, the MGA will make its position official on how cryptocurrencies will be adopted."

This proposal follows the recent vote of confidence from the Maltese government regarding Blockchain technologies. Last April, Prime Minister Joseph Muscat said: "We must be on the frontline in embracing this crucial innovation, and we cannot just wait for others to take action and copy them. We must be the ones that others copy."

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