The Maltese regulatory body is preparing to implement NFT regulations through a new round of discussions.
The Malta Gaming Authority (MGA) has initiated a consultation process to formulate fresh policies regarding Innovative Technological Arrangements (ITA) and the acceptance of Virtual Financial Assets (VFA) and digital tokens.
This consultation period will extend until December 14th and encourages interested parties to offer their opinions on the MGA’s plans to introduce new rules and regulations in these areas.
As part of the consultation process, the MGA will conduct a series of “Regulatory Workshops” with the aim of establishing more frequent and organized communication channels between industry participants and the MGA, and promoting informal exchanges of perspectives on regulatory matters.
The inaugural meeting will take place next month and will concentrate on the regulator’s proposed policies concerning ITAs, VFAs, and digital tokens. The MGA will extend invitations to interested stakeholders to participate in this workshop.
The MGA stated: “The ongoing consultation will provide these stakeholders with the opportunity to submit their feedback (if any) on the proposed policies.”
This consultation follows the MGA’s recent commitment last month to introduce “detailed player protection guidelines” for licensees, for which the agency has initiated a separate consultation.
The Maltese Gaming Authority (MGA) initiated a confidential consultation in September, concentrating on “license holders’ duties concerning their accountable gaming policies and procedures, and the five indicators of harm licensees must consider when establishing effective measures and processes to identify and address problematic gambling.”
The consultation is believed to have been carried out after an examination of the MGA’s Player Protection Directive by “industry specialists” and efforts undertaken by the MGA’s Research and Responsible Gambling divisions.
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