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Malta Gambling Regulatory Body Cautious of Bitcoin

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The Gaming Industry is penetrating to welcome technological advances, says a executive chairperson of a Malta Gaming Authority (MGA), Joseph Cuschieri. However, there should be stretchable regulatory frameworks that would innovate the attention to take advantage of a full developments that should also minimize risks to consumers.

One area a structures would be considered is a use of cryptocurrencies like bitcoin for gaming purposes.

Cuschieri pronounced a currencies are gaining belligerent in Malta since certain financial institutions are being risk-averse. They are also adopting a really regressive approach. He pronounced there has been a lack of slip in a gaming supply sequence and adequate review trails in place.

Speaking to Malta Today, he said:

Crypto-currencies are an try to emanate a practical currency, corroborated adult by a record block-chain that manages a transactions. I still see it as a risk, and a authority’s position is that we still do not accept crypto-currencies. The management has perceived really few requests to accept crypto-currencies, and we have always refused- we are looking to adopting a inhabitant proceed and given it’s a financial instrument we shall be collaborating

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