Malta Gaming Authority announces regulatory workshops and VFA consultation
The MGA has opened a consultation as its current guidance comes up for expiration.
Malta.- The Malta Gaming Authority (MGA) has opened a closed consultation on proposed new policies for Innovative Technology Arrangements (ITAs) and the acceptance of virtual financial assets (VFAs) and virtual tokens.
The consultation comes ahead of the expiration of the applicable period of its ‘Guidance on the use of Innovative Technology Arrangements and the acceptance of Virtual Financial Assets and Virtual Tokens through the implementation of a Sandbox Environment’ on December 31.
As such, the MGA intends to introduce a newly drafted policy to present its position with respect to the acceptance of VFAs, virtual tokens and the use of ITAs, including Distributed Ledger Technology platforms and smart contracts, by authorised persons.
MGA to hold regulatory workshops
The MGA is to hold a series of regulatory workshops, with the first focusing on the new proposed VFA and ITA policy. The regulator said the aim of the workshops is to offer a more regular and structured touchpoint between industry stakeholders and the MGA and to encourage an informal exchange of views on regulatory topics of mutual interest.
In the coming weeks, it will be inviting interested stakeholders to participate in the first workshop in December.
The current consultation will run until 14 December and invite input from relevant stakeholders on the MGA’s plans to introduce new rules and regulations regarding these areas.
Last month, the MGA held a consultation on proposed new player protection guidelines for its licensees. The proposals include the introduction of five markers of harm that licensees would have to take into account when creating processes to identify and respond to problem gambling. This would be set out in an amendment to the Malta Player Protection Directive (Directive 2 of 2018).
Meanwhile, the MGA has warned customers that several operators are operating in the country without an MGA licence, identifying 18 unlicensed domains in total.