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New big time gaming bitcoin casinos 2020
The Malta Gaming Authority is poised to introduce bitcoin as a mode of payment in 2020 if all conditions are met, which means that more people can enjoy online casinos as a whole.
According to the announcement the regulation of cryptocurrencies will take place in accordance with a global law on the matter which will come into effect in a year and a half. The law will enable the legal use of cryptocurrencies and will also regulate payments of real money. The regulation has been approved by Malta’s parliament and Malta’s financial and security regulators.
«We expect the first application to happen in the next two or three years, with the first payment possible in 2021, subject to the implementation of EU laws including Anti-Money Laundering laws,» the regulatory body said.
Regulation is not a concern for the Malta Gaming Authority, as the Malta Gaming Authority will «focus on the gaming and gaming machines sector, where regulation is not a major issue», said the regulator:
«The Malta Gaming Authority does not consider Bitcoin to be a currency. Bitcoin is an asset,» the regulatory body added.
Regulation has also been discussed in Italy, where the country’s Central Bank suggested there was no problem in the government of Italy adopting regulations for cryptocurrencies.
In 2015, in the first year of the cryptocurrency market, Italian Bitcoin users saw a surge with the adoption of regulated cryptocurrency.
«During January – June 2015 Italian Bitcoin users saw a substantial increase in transactions of at least 30 times the volume of the corresponding period of 2014-2015,» the Italian central bank notes on its website.
In 2016, there was a second surge followed by a third during February – May 2017, after which it dipped again and was at a four-year low in June 2017. However, the central bank observed that the Bitcoin «has returned to its initial level in January 2018.»
«The recent rise and fall of Bitcoin does not concern the Italian central bank, although it also does not concern the Italian authorities,» notes the Italian central bank.
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