MGA Publishes Consultation On Virtual Currencies

And the use of distributed ledger technology

The Malta Gambling Authority (MGA) published a consultation document this past week providing guidance on the use of distributed ledger technology (DLT) and the acceptance of virtual currencies through the implementation of a sandbox environment.

“The MGA’s strategy is to be at the forefront of remote gaming regulation, while embracing innovation and acknowledging that a prudent approach in this area is both sensible and required,” a press statement reads.

“Virtual currencies pose a number of risks,” the authority said, ones that need to be addressed in order to ensure consumer protections are in place, prevent crime, money laundering and terrorism funding.