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The MGA publishes its Policy on the use of Distributed Ledger Technology by Authorised Persons

Monday 30 de January 2023 / 12:00

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(Malta).- Following the closure of the relevant consultation period, the Malta Gaming Authority (MGA) is hereby publishing its Policy on the use of Distributed Ledger Technology by Authorised Persons.

The MGA publishes its Policy on the use of Distributed Ledger Technology by Authorised Persons

The MGA is simultaneously also updating the System Documentation Checklist, System Audit Checklist, and System Review Checklist wherein necessary amendments have been made in line with changes brought about by the Policy.

Subject to transitory provisions, the Policy shall be considered to take immediate effect as of its publication date and shall constitute an effective replacement of the MGA’s Guidance on the use of Innovative Technology Arrangements and the acceptance of Virtual Financial Assets and Virtual Tokens through the implementation of a Sandbox Environment (the ‘Sandbox Framework’).

The Policy is therefore intended to provide a comprehensive and updated outline of the MGA’s position with respect to Distributed Ledger Technology (DLT) applications and, where possible, streamline the requirements previously applicable by way of the Sandbox Framework in light of the regulatory experience gained over its period of operation; while maintaining continual congruence with the MGA’s regulatory objectives.

Distributed Ledger Technology (DLT) or Distributed Ledger Technology is an electronic system or database for recording information that is not executed by a single entity. These allow us to store and use data that can be decentralized (stored in various places) and distributed (connected and therefore able to communicate) both privately and publicly.

Categoría:Others

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País: Malta

Región: EMEA