Malta recognizes the strong potential of blockchain in future generations. It is currently involved in efforts to create a pioneer European blockchain hub. The Malta Gaming Authority (MGA) is also working on a regulatory framework in partnership with the Malta Digital Innovation Authority (MDIA). Such efforts are evidenced by the creation of a Joint Regulatory Efficiency Board which is incorporated by individuals nominated from both the MDIA and MGA, amongst other national authorities. The new legislation will focus on protecting players and investors, as well as providing an opportunity for operators to thrive and develop in a regulated environment.
The blockchain industry continues to evolve as a variety of different businesses begin to embrace the new platform. For now, iGaming operators have not yet declared their support for blockchain, but the current state of online gaming may require them to fully adopt this rising technology for the next generation.
Online gamblers have shown a preference in recent times for moving from FIAT money to popular crypto currencies such as Bitcoin, Ethereum, Bitcoin Cash and Litecoin for online gambling transactions. iGaming operators have noticed this trend amongst their players and have been forced to embrace cryptocurrencies or run the risk of neglecting a market segment.
With Malta focusing on improving crypto currency regulations and giving crypto operators a robust environment to operate in, it will rub off on the iGaming industry in Malta and cause more online casinos to start offering crypto currency payments to their players.
Why choose Nexia BT?
Established by Brian Tonna, managing partner, Nexia BT is a corporate and private client advisory, audit, accounting and tax firm. Our clients are local and international financial and other institutions, SMEs, high-net-worth-individuals, the public sector and high-end organisations.
As a reputable organisation of over 25 years standing and forming part of a worldwide network of independent business advisors, consultants, auditors and accounting firms present in over 115 countries, we are optimally positioned to offer global expertise.
Along these years, we have built client loyalty around a credible reputation for delivering results whilst working to the highest professional standards.
Nexia BT’s strength lies in the technically competent staff with experience across a varied range of industry sectors. We deliver solutions to our clients through a high calibre customised service reflected in the professional work approach and ethics of our staff and driven by our ethos ’Closer to you’. With the backing of this business approach, we confidently present you Nexia BT as your trustworthy, dependable and reliable partner in Malta.