Crypto payments are now permitted at MGA online casinos! The MGA distributed ledger technology policy is now published! (Image from WorldSpectrum at pixabay.com )
The tide is turning; the Malta Gaming Authority (MGA), one of iGaming’s most trusted regulatory bodies now allows online casinos to accept cryptocurrency deposits.
Just last month we reported on the MGA’s decision to allow all BetConstruct platforms to accept crypto and now the trusted body has gone one better by making this a possibility for all online casinos.
The MGA recently published its distributed ledger technology policy which gives these platforms (as long as approved by the MGA) the power to accept and payout popular cryptos including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP).
The publication of the “Policy on the use of Distributed Ledger Technology (DLT) by Authorised Persons” indicates that the MGA has recognised the potential use of DLT in the gaming industry and has established guidelines for its implementation by authorised entities. This policy outlines the requirements and standards that companies using DLT in their operations must meet, and serves to ensure the security and fairness of these systems for players and other stakeholders.
In layman’s terms, that means that approved operators holding an MGA license can now compete with Curacao-licensed online casinos by offering cryptocurrency iGaming. Previously, only online casinos holding a CEG (Curacao eGaming) license were permitted to process crypto deposits and withdrawals. In fact, that was a key selling point for a Curacao license. However, now operators can provide the same under a more respected MGA license.
This is great news for online casino players in Canada, New Zealand, India, South Africa, and those in other countries regularly accepted at MGA-licensed online casinos. If your favourite platforms take advantage of cryptocurrencies, you can deposit and play using crypto such as Bitcoin.
What the New MGA Cryptocurrency Framework Means for the iGaming Industry
For MGA-licensed online casinos, this new policy means they can now apply for permission from the Malta Gaming Authority to offer cryptocurrency iGaming. If approved, an online casino can accept crypto deposits and process withdrawals for players that want to enjoy high-quality online casino games using their digital currencies.
As for the players, they just need to identify which MGA online casinos have been approved for crypto payments, create an account and start playing. Many of these platforms already carry games from iGaming software developers that are already optimised for crypto gameplay. Evolution, Pragmatic Play Live, and Playtech Live are just some of the live casino suppliers that have games optimised for playing using popular cryptocurrencies.
Will the New MGA Crypto Framework have an Impact on Curacao Licensing?
You would have to think so. The Malta Gaming Authority has long been thought of as one of the best regulatory bodies in the iGaming industry. Now that online casinos can apply for permission to accept crypto payments, the MGA license now has another major feather in its cap.
Although steadily improving, the Curacao license has never been thought of in the same breath as MGA or UKGC licensing. In fact, one of the main reasons iGaming operators considered Curacao licensing was the fact it allowed platforms to accept cryptocurrencies. Now that the MGA is also making that possible means that operators can now get that same benefit from a more respected online gambling regulatory authority.
An MGA license offers much better protection for players than a Curacao license. That protection covers all players, whether they live within or outside of the EU. Under MGA licensing, an online casino has to respond to all player complaints. Additionally, any player that feels they have not received an adequate solution to their complaints can go to the MGA. The authority offers free mediation and complaints resolution services to any players they feel have a case against the online casinos.
Popular MGA-Licensed Online Casinos that Could Apply for Crypto Permission
- Energy Live Casino (CAD, INR, EUR, USD, NZD)
- Slotwolf Live Casino (CAD, EUR, USD, ZAR, INR, NZD)
- Wheelz Live Casino (EUR, CAD, NZD, INR, USD)
- Wildz Live Casino (EUR, CAD, INR, USD, or NZD)
- Wild Fortune Live Casino (EUR, CAD, NZD, USD, ZAR)
Use our live casino guide to establish other MGA-licensed online casinos that can apply for permission to accept cryptocurrency payments.
For that reason, players are more likely to choose an MGA casino where possible. Previously, most would consider a Curacao-licensed casino purely because they can play using cryptocurrencies. Now that the MGA can do the same, it stands to reason that players are more likely to enjoy crypto play on an MGA-licensed platform.
If you want to check out the full 15-page MGA Policy on the use of Distributed Ledger Technology by Authorised Persons, you can download the PDF on the publications page on the MGA website.
Curacao licensing does hold other benefits. For example, it is cheaper for operators and it allows online casinos to target players in Australia and many other countries not accepted under an MGA license.
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