The benefits of Bitcoin for the gambling industry have been discussed many times in the past. But some authoritative figures still see Bitcoin as a risk, particularly in the gaming and gambling world. While Malta is quickly becoming a hotbed for iGaming, the adoption of Bitcoin by local companies will take longer than people may want it to.
Malta’s Online Gambling Regulator Isn’t Keen on Bitcoin
It is rather interesting to learn the online gambling regulator of Malta is rather hesitant towards approaching Bitcoin these days. The wait-and-see approach employed by traditional financial institutions is rather uncommon in the online gaming and gambling industry. After all, all of these companies want to attract as many customers around the world as possible.
But Joseph Cuschieri, who is the chairperson of the Malta Gaming Authority, is one of the few exceptions in this regard While he noticed the growing popularity of cryptocurrency in the gaming world, he strongly feels this is due to “financial institutions becoming more risk averse”. That statement could have some merit, though, as it becoming more difficult for iGaming providers to find a bank partner these days.