SBC News Malta MGA launches next phase of crypto testing environment

Malta MGA launches next phase of crypto testing environment

The Malta Gaming Authority (MGA) has announced that it will advance its research and resources of cryptocurrency capabilities aiding Malta’s regulatory development of online gambling incumbents.

Updating stakeholders, the MGA announces that it has launched the second phase of its ‘Sandbox Framework’ initiative, exploring the capacity of authorising ‘virtual financial assets’ as a means of payment, along with further blockchain-centric advancements.

A sandbox allows developers to isolate and test new blockchain components within a controlled environment.

Launching phase-2 of its framework, the MGA seeks applications to test potential Innovative Technology Arrangements (ITAs), such as smart contracts, hyper-ledgers and DLT platforms.

Helping its research directives, the MGA has extended the duration of its sandbox environment until 31 December 2021.

Interested parties seeking to participate in MGA’s sandbox, can access all relevant information within the MGA’s amended ‘Guidance on the use of Innovative Technology Arrangements’.

The update details that all participating ITAs will be reviewed by auditors sanctioned by the Malta Digital Innovation Authority (MDIA), which is guiding  the authority on its technology directive.

 

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