It has been reported that the government of Malta is advancing on its strategy to allow the use of digital currencies like Bitcoin at online casinos.
The Malta Gaming Authority (MGA), which is in charge of both land-based and online gambling, has already presented a study on how to effectively regulate the use of cryptocurrencies.
MGA Executive Chairman Joseph Cuschieri believes that this type of currency presents great opportunities as well as multiple risks to the gaming industry. "The shape and form of the framework governing cryptocurrencies will be announced in due course and once the risk assessment is carried out. Once the results of the study are evaluated, the MGA will make its position official on how cryptocurrencies will be adopted."
This proposal follows Maltese government trust in Blockchain technologies. Local authorities hope to become the leading country using these industry-changing financial instruments. Last April, Prime Minister Joseph Muscat said: "We must be on the frontline in embracing this crucial innovation, and we cannot just wait for others to take action and copy them. We must be the ones that others copy."