Malta Regulator Won't Approve Bitcoin Authorization for Operators

This week the Malta Gaming Authority revealed that the regulator will not be approving of the use of cryptocurrencies such as Bitcoin at this time, due to risks of fraud and money laundering.

The announcement was made by Joseph Cushieri, who said that while the MGA had only seen a few applications to adopt cryptocurrencies in sportsbetting and casino websites, all have been rejected as being recognized as a legitimate banking method. This means that while casinos could offer Bitcoin for deposit and withdrawal methods, they would be doing so without the backing of the MGA in the event of a dispute or problem.

Cushieri said that he is open to changing the stance of the MGA at some point, but noted that there needed to be advancements in the way cryptocurrencies are regulated, especially inside of Malta's borders.

Casino Listings will update this story as more developments arise.

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