DLT technology has become available for Maltese players and operators.
The Maltese gaming regulator launched the first stage of the Sandbox Framework for the exchange of virtual financial assets (VFA) and the use of DLT technology in the gaming industry. The launch took place on January 1, 2019.
At the first stage of the program implementation, the department will accept 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 may be extended if the MGA considers it appropriate.
The gambling regulator also updated the system for working with licensed operators.
New companies can apply for the use of DLT-solutions, along with the application for licensing.
Existing licensees to apply for permits and use DLT solutions can change the payment methods in the application, as well as get information about financial management.
Program participants must report to the players on the state of their assets on a monthly basis by keeping a record of the player’s fund. Licensees will also be required to report to the player any unsuccessful transactions and refunds, as well as invalid deposits.
Authorization to participate in the Sandbox Framework depends on the applicant having a gambling regulator license. Obtaining a permit should not be contrary to applicable laws, in particular, the VFA law.
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