Free VPS Trial,no credit card required

Start Free Trial
MGA implements First Phase of its Sandbox Framework

MGA implements First Phase of its Sandbox Framework

NetShop ISP

NetShop ISP · Blog Author

Jan 03, 2019 · Uncategorized

As announced earlier in 2018, the Malta Gaming Authority has launched the first of two phases of its Sandbox Framework for the acceptance of Virtual Financial Assets (VFA) and the use of Distributed Ledger Technology (DLT) within the Gaming Industry on 1 January 2019.

During this phase, the Authority will be accepting applications for the use of DLT assets, directly or through third party service providers, by its respective licensees. This phase is planned to last for a period of 10 (ten) months, subject to an extension if deemed fit by the MGA.

The Authority has also updated its Licensee Relationship Management System (LRMS) to allow:

– New operators to apply for approvals for the use of DLT assets as part of a New Licence Application;
– Existing licensees to apply for approvals for the use of DLT assets through the application type – New or Change in Payment Methods / Financial Management Information; and
– Existing licensees participating in the sandbox environment to report VFA player liabilities through the monthly Player Funds Report. Licensees will also need to report any failed return transactions, with respect to any invalid deposits.
– An approval to participate in the Sandbox Framework is conditional on the applicant holding the relevant licence issued by the MGA, without prejudice to any other regulatory requirements stemming from other applicable legislation, including but not limited to the VFA Act and regulations issued thereunder.

For more information click here.

Related Articles

Categories

Backup
6
Business Continuity
4
Cloud Hosting
9
Colocation
3
Company Updates
1
Cryptocurrencies
1
Data Centers
10
Dedicated Servers
3
Forex
12
Gaming
1
iGaming
28
Industry News
28
Interviews
7
Joomla
9
Magento
4
Managed Services
1
Press Releases
37
Product News
6
Resellers
1
Security
19
Streaming
1
Tech Startups
12
Tutorials
27
Uncategorized
389
Vps Hosting
9
Web Design & Development
3
Web Hosting
41
Webinars
1
Wordpress
14

Free VPS Trial

No Credit Card Required.

Recent Posts

How To Achieve Ultra Low Latency – A Guide for Forex Brokers and Liquidity Providers

How To Achieve Ultra Low Latency – A Guide for Forex Brokers and Liquidity Providers

01 December, 2021

How To Increase File Upload Size in Nginx Web Server

How To Increase File Upload Size in Nginx Web Server

23 November, 2021

Black Friday & Cyber Monday 2021 – Hosting Deals Up to 50%

Black Friday & Cyber Monday 2021 – Hosting Deals Up to 50%

22 November, 2021

SiGMA iGaming Expo 2021 in Malta Concludes Successfully for NetShop ISP

SiGMA iGaming Expo 2021 in Malta Concludes Successfully for NetShop ISP

19 November, 2021

How To Copy or Transfer Files on Linux Servers with RSync

How To Copy or Transfer Files on Linux Servers with RSync

10 November, 2021

Products

Bare Metal Dedicated Servers

Virtual Servers (VPS / VDS)

Rack Space & Colocation Hosting

Fast Web Hosting

Cloud Backup

Premium DNS Hosting

Company

About Us

Careers

Blog

Videos

WebinarsNew

Awards & Honours

Become a Partner

Contact Us

#letushostyou

Award Winning Hosting Provider with a Customer-centric approach to Business and an Open Source Mindset regarding Solutions and Products Development.

Est. 2004, Larnaca – Cyprus


About

Legal Address: 2A, Marathonos, Livadhia, 7060, Cyprus

Operations Office: 120, Faneromenis Avenue, Imperial Tower, 2nd Floor, Larnaca, 6031, Cyprus

Company Reg: HE 217340
EU VAT Number: CY10217340J
ISO 9001:2015: No. QS.21.038

International Phone: +357 2425 0808

Solutions

Load Balancing

IT As a Service

iGaming

Forex

Migration Services

Security

Disaster Recovery