MGA Introduces Guidelines for Cryptocurrencies

This week the Malta Gaming Authority established some guidelines for cryptocurrency use by online casinos that carry its gaming license.

The new framework will come into effect beginning in January of 2019, when the MGA will begin accepting applications from sites to use digital assets and currencies as a way to transmit financial information. The MGA will later implement a second phase afterward, which will provide sandbox frameworks for use within the different sites. The process was developed during the Delta Summit, which took place last week and was tasked with helping further blockchain and cryptocurrency technology.

Speaking about the framework MGA CEO Heathcliff Farrugia said, "This Framework is intended as a live document and will therefore be subject to feedback and potential updates during its duration, whilst also keeping in consideration any technological or regulatory developments which may occur. The MGA envisages that this framework will run until end of October 2019, although its extension, both partially or wholly, could be a possibility. The Delta Summit is definitely the ideal place to launch this sandbox."