MGA issues call for interested parties to register their interest on DLT and/or Cryptocurrency projects

The Malta Gaming Authority (MGA) is continuously analysing ongoing developments in the fields of Distributed Ledger Technology (‘DLT’) and cryptocurrencies including their application in various technology and innovation driven industries. Malta aims to be at the forefront of innovation and therefore the MGA is actively considering the possibility of allowing the application of cryptocurrencies and […]

Written By ACT Team

On December 11, 2017
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The Malta Gaming Authority (MGA) is continuously analysing ongoing developments in the fields of Distributed Ledger Technology (‘DLT’) and cryptocurrencies including their application in various technology and innovation driven industries. Malta aims to be at the forefront of innovation and therefore the MGA is actively considering the possibility of allowing the application of cryptocurrencies and DLT in the gaming industry by its licensees.

The necessary safeguards to protect consumers, to prevent crime, money laundering or funding of terrorism and to protect the reputation of the Maltese jurisdiction will remain in place .

In this respect, the MGA is currently in the process of establishing the sandboxed (test and learn) live environment for cryptocurrency usage within the remote gaming sector, whilst also drafting guiding principles for the application of DLT and its various adaptations within the industry, The MGA is thus inviting interested parties willing to share information to provide details on their cryptocurrencies and/or DLT projects.  Closing date is Monday, 8 January, 2018.

How can we help?  

For further information, please contact one of the firm’s tax partners, Stephen Balzan on [email protected] or Elaine Camilleri [email protected]. ACT can help you understand the changes to the tax rules and how these can impact your business.  

Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria.  For an appointment in our Gozo office, please call on 00356 21378672 or send us an email on [email protected].