Roll-out of virtual currency imminent?
The Times of Malta reports that a mock virtual currency roll-out as a way to test proposed controls and legislation without harming the local economy appears to be imminent.
The idea for a ‘sandbox test’ comes from a PWC report on the possible introduction of crypto-currency commissioned by the MGA (Malta Gaming Authority).
The Prime Minister of Malta has set up a task force whose members include Gaming Authority chairman Joseph Cuschieri.
This new task force is in charge of determining the best approach to adopting virtual currency. His spokesman stated that the PM wanted Malta to be the first country to regulate crypto-currency and blockchain and to become the “blockchain capital of Europe”.
The PWC report, still being poured over by the new task force, examines the positive and negative aspects of virtual currency mindful of the dangers as well as the opportunities it might provide.