Free VPS Trial, no credit card required
Learn More
NetShop logo

Home

Blog

MGA to Introduce Test Cryptocurrency in ...

MGA to Introduce Test Cryptocurrency in Regulatory ‘Sandbox’

MGA to Introduce Test Cryptocurrency in Regulatory ‘Sandbox’

Published on Fri Sep 29 2017

According to the Times of Malta, the government may soon begin a ‘sandbox test’, a trial rollout of cryptocurrency to test regulations and legislative measures before giving the green light to the Malta-licensed online gambling sites to accept digital currencies.

The test will be conducted by the auditing firm PricewaterhouseCoopers (PWC) which will be able to manage and estimate the pros and cons of the virtual currency to the best of its abilities.

“The idea is that virtual currency would be introduced within a controlled framework to test proposed controls and legislation but without there being any bearing on the wider local economy.” sources said.

Joseph Muscat, the Prime Minister of Malta, will review the results. Dr Muscat’s spokesman told the Times of Malta that he wants to make Malta the “blockchain capital of Europe”. The spokesman added “We would like to be the first country to regulate crypto-currency and blockchain”.

Joseph Cuschieri, MGA’s Executive Chairman, told the Times of Malta that it is now time for Malta to do something about the new form of money. “In this respect, Cryptocurrencies present us with a double-edged sword, combining opportunity with significant risks,” he added.

Share this article

Recent Posts

NetShop ISP will Showcase Forex VPS Solution at iFX EXPO Dubai 2021

NetShop ISP will Showcase Forex VPS Solution at iFX EXPO Dubai 2021

April 19, 2021

How to Secure your Website with FREE SSL

How to Secure your Website with FREE SSL

April 16, 2021

How to change your WordPress Website Domain

How to change your WordPress Website Domain

April 15, 2021

How to Upgrade Debian 9 to Debian 10 using CLI (command line)

How to Upgrade Debian 9 to Debian 10 using CLI (command line)

April 14, 2021

How to start trading Forex with low latency

How to start trading Forex with low latency

April 13, 2021