MGA calls out to cryptocurrency experts

6 Dec 2017

mga bitcoinThe Malta Gaming Authority has once again showed a clear interest in allowing cryptocurrency transactions among their existing licensees. According to a recent press release on their website they have decreed that they are looking for experts who will register interest and provide details on Distributed Ledger Technology (DLT) and/or Cryptocurrency projects. The Malta Gaming Authority is actively pursuing new and innovative ways in order to further develop their license and stay at the forefront of iGaming. Although the MGA has not yet confirmed they will allow the implementation of digital currency transactions among licensed operators, the following statement did speak volumes "the Authority is actively considering the possibility of allowing the application of cryptocurrencies and DLT by its licensees."

The Malta Gaming Authority has highlighted the following points in order to minimize the risks associated with cryptocurrencies:

  1. Protect consumers
  2. Cater for the prevention of crime and money laundering or funding of terrorism (with due regard to the 4th Anti Money Laundering Directive)
  3. Protect the reputation of the Maltese jurisdiction

Any interested parties can contact the Authority via email at innovation.mga@mga.org.mt up till January 8th 2018. The MGA will evaluate all the submissions and publish their findings on Q1 2018.

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