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ARTICLE · 05 APRIL 2018

MGA Launches Guidance On DLT And VC Use Through Sandbox Approach

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The sandbox approach is aimed to commence during the second quarter of 2018 and will last for a period of six months.

MaltaMedia, Telecoms, IT, Entertainment
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The Malta Gaming Authority (MGA) has launched a public consultation document on the use of Distributed Ledger Technology (DLT) and the acceptance of Virtual Currencies (VC) within the remote gaming sector through the implementation of a sandbox approach (test and learn), whilst also drafting guidelines for the adoption of DLT within the industry.

The sandbox approach is aimed to commence during the second quarter of 2018 and will last for a period of six months. 

The MGA will be accepting use of VCs as a means of payment subject to the satisfaction of a number of conditions, in order to ensure investor protection and to be able to address issues of scalability. The MGA retains full discretion in evaluating whether the necessary criteria are satisfied through the adoption of a risk-based approach. 

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