Malta Gaming Authority preps cryptocurrency ‘sandbox test’

Malta’s gaming regulator has finalized plans to launch a ‘sandbox’ test of distributed ledger technology that could pave the way for online gambling licensees adding crytpocurrencies like Bitcoin to their list of payment options.

Last September, the Malta Gaming Authority (MGA) announced that it had enlisted auditing firm PricewaterhouseCoopers (PwC) to help orchestrate a “sandboxed test environment” that will determine what benefits and risks the use of cryptocurrencies might offer/pose to Malta’s gaming sector, which contributes 12% of the country’s GDP.

On Thursday, the MGA announced that the test would commence in Q2 and continue for six months, although the MGA noted that the duration is subject to change. But first, the MGA is inviting stakeholders to participate in a consultation over the parameters of the sandbox test. Interested parties need to submit their views by April 30. (The full document can be viewed here.)

While the test will focus on established cryptocurrencies, the MGA says it will also evaluate operator-generated tokens on a case-by-case basis.