Dlt Technology Has Become Available For Maltese Players And Operators
Maltese gambling regulator launched the first stage of sandbox framework for sharing virtual financial assets (vfa) and using dlt technology in the gambling industry. Launch took place on january 1, 2019.
At the program, the office will acceptation applications for the use of dlt solutions directly or through third-party service providers from licensed operators. It is assumed that this phase will last 10 months and can be extended if mga deems it appriate.
The gambling regulator also updated the system of working with licensed operators.
New companies can apply for the use of dlt solutions along with licensing.
Existing licensees for submitting applications for permits and using dlt solutions can change payment methods in the application, as well as obtain information about financial management.
Program participants mustus of its assets monhly by maintaining a report on the player fund. Licensees will also need to inform the player about any unsuccessful transactions and return funds, as well as invalid deposit.
The permission to participate in sandbox framework depends on the gambling regulator. Obtaining permission should not contradict the current legislative standards, in particular, the vfa law.
Recall that the gambling regulator malta intends to sign an agreement on cooperation with the italian authorities in order to combat crime in the field of gembling.
Read also: business in malta – how to open online casino benefits