Malta, the EU member country that hosts most of the online gambling companies is quickly moving forward with procedures to regulate online gambling with bitcoin and other cryptocurrencies.
Malta Gaming Authority (MGA), which is the local watchdog of the gambling industry, announced that the regulatory body had commissioned a detailed technical research to examine the issue of regulated cryptocurrency use in gambling.
The Malaysian authorities predict that cryptocurrencies and blockchain technologies are emerging innovations which need study and assessment before potential adoption in the online gaming industry
The central aspects that will be studied are consumer protection and anti-money laundering implications with competitive pressures from other jurisdictions.
The primary goal of this move is to attract new gaming operators and investment to the small island.