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ARTICLE · 17 JANUARY 2016

Bitcoin Possibly To Be Recognised By MGA And Regulators In 2016

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CoinTelegraph stated that the Bitcoin currency may possibly be recognised by the Malta Gaming Authority (MGA) as well as other regulators in 2016.

MaltaMedia, Telecoms, IT, Entertainment
CSB Group
CSB Group
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CoinTelegraph stated that the Bitcoin currency may possibly be recognised by the Malta Gaming Authority (MGA) as well as other regulators in 2016. The current scenario in Malta is one where hundreds of casinos licensed on the island cannot accept Bitcoin due to the MGA's regulations, despite a lot of them that would like to offer this payment option to their players.

The acceptance of the Bitcoin as payment method would help popularise it among online casinos and gamers while also attracting Bitcoin casinos that currently use FIAT currency. Malta-based Bitcoin casino BitStarz thinks that the adoption of Bitcoin would open up opportunities for spreading cryptocurrency in the gambling industry. Sasha Jade, marketing manager at BitStarz stated that the problem lies in FIAT money casinos currently not accepting Bitcoin. These casinos still hold 99% of the gaming market.

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