How small Mediterranean nation is looking to make Bitcoin Gambling legal
The government of Malta and the Malta Gaming Authority (MGA) are stepping up the game by taking a huge bet on bringing Bitcoin and other cryptocurrencies under regulation and to everyday use for all Bitcoin casino fans. The Gaming sector contributes €1.2 billion to Malta’s economy, which is 12% of the GDP – and with making Bitcoin Gambling legal this number could go up even more.
Malta’s parliamentary secretary for digital economy, Silvio Schembri commented the following to local press:
“We’ve heard enough about the opportunities posed by blockchain and it’s now time to put words into action to create new opportunities for both citizens and the economy. It’s my priority to turn this vision into a reality.”
Prime Minister Joseph Muscat also echoed the same message that Malta should be among the first governments to adopt Blockchain. The government is aiming to boost the development of Blockchain immensely and aim to position Malta as one of the leading users of cryptocurrencies and Blockchain.
— Joseph Muscat (@JosephMuscat_JM) September 29, 2017
Bitcoin casino and gambling sites looking at MGA closely
With Bitcoin and cryptocurrency casino getting more and more robust and popular with cutting-edge technologies and top-notch security features this is only good news to any Bitcoin Casino fan as now a European country is joining the race to bring Bitcoin Gambling legal and safe to play for everyone!
Added prevalence of MGA as the leading authority for licensing on iGaming operators in Europe (including such names as Betsson, Unibet and Pokerstars) it would seem that the Maltese government taking a step towards Blockchain and cryptocurrency regulation, could very well push for a huge wave of Bitcoin casinos coming up in Europe under MGA licensing.
How the regulatory side of handling cryptocurrencies is going to be will be seen in future. For now, the good news is this – Cryptocurrencies and Bitcoin are to stay and they will be big in online gambling and casinos!
MGA is looking to stay on top of technological changes involving cryptocurrencies in the online gambling ecosystem and their executive chairman Joseph Cuschieri echoed this in his statements:
“We firmly believe that the best way to control gambling, prevent criminal activity and protect players is through robust and effective regulation and enforcement,” he said, adding:
“Prohibition or barriers only lead to underground activities and black market operations. The latter is not in the best interest of players and the sector in general. That is why it is best to establish transparent regulatory regimes so that we bring integrity and trust into the system.”
Get ready for Bitcoin Casino Bonanza!
For any Bitcoin Casino and gambling fan, this is like an ode to joy as the move seems to secure the future of legal Bitcoin gambling and the Blockchain technology. Malta stepping up to the race is probably no coincidence as MGA has been on top of iGaming and online gambling in Europe for a while and as the main licensing operator in Europe surely is looking to further enhance that positions.
Bitcoin casinos seem to be here for good and with MGA stepping up their game we can only expect a huge boom in Bitcoin gambling in future.
So what are you waiting for? Bitcoin casinos are here to stay and you can grab your share for example at mBit Casino with 110% up to 1BTC welcome offer along with other great offers!