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MGA calls for interested companies in DLT and/or Cryptocurrency projects

MGA calls for interested companies in DLT and/or Cryptocurrency projects

MGA calls for interested companies in DLT and/or Cryptocurrency projects

The Malta Gaming Authority (MGA) has announced on its website on Tuesday that is looking for interested parties willing to share information regarding their cryptocurrencies and/or DLT projects, as is actively considering the possibility of allowing the application of cryptocurrencies and DLT by its licensees.

The regulator says that is mindful that there are risks which need to be addressed in order to ensure that the necessary safeguards are in place to protect consumers, cater for the prevention of crime and money laundering or funding of terrorism and protect the reputation of the Maltese jurisdiction.

“MGA is currently in the process of establishing the sandboxed (test and learn) live environment for cryptocurrency usage within the remote gaming sector, whilst also drafting guiding principles for the application of DLT and its various adaptations within the industry. Cognizant of the fact that a certain degree of expertise lies within the industry, with a number of innovative projects and concepts already available on the market, the Authority is reaching out to interested parties willing to share information regarding their cryptocurrencies and/or DLT projects.”, MGA said.

All submissions will be evaluating bt the Authority, “with a view to enrich and render more practical the sandbox environment and DLT guiding principles it intends publishing in Q1 of 2018.”

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