The Malta Gaming Authority has opened up dialogue with stakeholders in relation to its policy proposals on Virtual Financial Assets and virtual tokens.
Aiming to introduce its Innovative Technology Arrangements policies, the MGA requires guidance from stakeholders as it develops its approach to advanced new technologies such as virtual tokens and VFAs.
Maltese gambling’s regulator is seeking deeper insights into the use and management of ITAs, including Distributed Ledger Technology platforms and smart contracts.
Offering stakeholders the opportunity to influence policy and supporting its research, the MGA has launched a consultation period until Dec 14 and has implemented a ‘Sandbox Environment’ to test the application and acceptance of VFAs and ITAs expiring at the end of this year.
Further, the regulator will launch a series of dedicated Regulatory Workshops that will serve as a “structured touchpoint between industry stakeholders and the MGA and to encourage an informal exchange of views around regulatory topics of mutual interest”.
The MGA will be inviting interested stakeholders to participate in the first workshop that will be held in December 2022.
The body is also developing its new proposals to reform its Player Protections Directive, which undertook a ‘closed consultation’ with licensees in October as it finalises new player protection guidelines for licensees that will be published in 2023.