The Malta Gaming Authority (MGA) has published a new policy on the use of distributed ledger technology by authorised parties. It replaces the current guidelines with immediate effect.
The Malta regulator has also updated checklists, documentation, reviews and audits to support the new amendments and update all systems to be in line with the policy changes.
MGA added that “Subject to transitory provisions, the Policy shall be considered to take immediate effect as of its publication date and shall constitute an effective replacement of the MGA’s Guidance on the use of Innovative Technology Arrangements and the acceptance of Virtual Financial Assets and Virtual Tokens through the implementation of a Sandbox Environment (the ‘Sandbox Framework’).”
The policy clarifies MGA’s position on the use of DLT applications that were previously applicable through the sandbox framework.
The MGA was established in 2001 to regulate the various sectors of the gaming industry that fall under the MGA’s authority, by ensuring fairness transparency to players using gaming services, preventing crime, corruption and money laundering and to protect minor and vulnerable players.
The MGA was one of the first regulators to offer legislation that regulates the activity of online gambling companies and create a secure atmosphere for players.
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