MGA To Push Cryptocurrency Legitimacy

The Malta Gaming Authority has developed a strategy to further promote the legalization of cryptocurrencies such as Bitcoin at online casinos. The Government is on a mission to completely organize the use of e-coins and has, therefore, composed a detailed technical study to supervise land-based and online gambling establishments on the archipelago.

The executive chairman of MGA, Mr. John Cushier, stated that progressive Blockchain technologies are the key to a modern and healthy gambling environment, especially the use of Bitcoin. Before implementing them into the system, it is necessary to determine which potential risks could occur, as well as what benefits they would bring. The new regulative will be announced once all assessments have been carried out and the study is completely evaluated.

As one of the most adoptive and progressive governments, at least when it comes to gambling regulations, the Maltese administration is deeply convinced in the success of Blockchain technologies and the digital currency in general. Further development of cryptocurrencies will boost the evolution of the gaming industry and make Malta a leader worldwide. Even the prime minister welcomed the strategy back in April, as it pushes the island towards innovation, and sets an example for other countries to follow.

The new technologies will be presented to the public as part of promoting the project to other Blockchain companies. Malta Gaming Authority connects commercial needs of operators around the world with gaming legislations and is considered the best remote gaming regulator. The single regulatory body strives to ensure the integrity of gaming and to support the industry both technologically and commercially.

Source:

“MGA Plans A Cryptocurrency Legalisation At Online Casinos”, maltaigamingsummit.com, September 26, 2017.