Under the Sandbox Regulatory Framework, the MGA offers licenced operators the opportunity to make an application for the use of ITAs
Expiry Date: 31st December 2021
Distributed Ledger Technology (DLT) and each of its implementations are new and disruptive phenomena in the digital currency and technology spaces. Under the Sandbox Regulatory Framework, the Malta Gaming Authority (MGA) offers licenced operators the opportunity to make an application for the use of Innovative Technology Arrangements (ITAs), including Distributed Ledger Technology (DLT) platforms and smart contracts. Although ITA usage amongst operators and stakeholders remains at the discretion of the MGA, the Authority has indeed set out some initial requirements. The MGA may revise such requirements on an ongoing basis, always ensuring it takes a risk-based approach. Licensees may submit their application for the use of ITAs through the MGA’s Licensee Relationship Management System (LRMS). Once the Authority issues an approval for the use of DLT assets/ITA by a licensee, the dynamic seal will reflect the fact that the licensee is participating in the sandbox environment.
KPMG Malta recognises and understands the challenges and opportunities faced by gaming entities. We have a strong team of locally-based and experienced Gaming and Blockchain specialists. In addition, KPMG has the unique advantage of Global Gaming and DLT Teams, which bring together localised expertise from various jurisdictions. By combining our industry expertise from various hubs across the world, we are in a position to offer a truly professional service across functional and geographical boundaries.
Speak to one of the team if you wish to incorporate ITA(s) into your operations.
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