MGA publishes consultation on virtual currencies

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.

The full consultation can be read here.

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