MGA to Start Testing for Crypto Casinos in 2019; Skrill Starts Selling Bitcoin

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Cryptocurrency gambling is looking more like the future of online gambling every day and if you ever need proof of that you need only to look at the recent trends in the industry.  In the past week alone, we saw two major updates from the crypto-casino sector that are great news for all Bitcoin punters. The first is that the Malta Gaming Authority has officially set the date of its crypto sandbox tests for January next year. And the second is that the popular casino payments service Skrill is now allowing for direct Bitcoin purchases. For more info on both updates, just keep reading.

MGA to Start Tests Very Soon

At the Delta Summit in Malta last week, Heathcliff Farrugia, the newly appointed CEO of the Malta Gaming Authority – one of the biggest gambling regulators in Europe –  shed details about the start of the first phases of MGA’s Sandbox Framework test.

Announced in October last year, the Sandbox Framework was devised as a testing ground for the implementation and adoption of “Virtual Financial Assets and Virtual Tokens” (i.e. cryptocurrencies) in Malta-licensed gaming operators. According to details revealed in a press release, the first phase of the test will begin on the 1st of January 2019, when the MGA will start accepting applications for the use of “Distributed Ledger Assets” (cryptocurrencies) as a payment method.

Phase 1 of the test will then be followed by a Phase 2 which will extend the Sandbox Framework and start the process of accepting applications from operators who want to use ITAs (Innovative Technology Arrangements) in important technical equipment. Officially, the sandbox test will span until the end of October next year, or even more if extended, a time during which the MGA is to estimate the risks and benefits of the adoption of cryptocurrencies in the local gambling industry.

Skrill Now Lets You Buy and Deposit Crypto Directly

One of the most popular payment processors for online gambling, Skrill has been a steady member of the online casino industry for quite some time now. Staying in touch with the trends in the online sector, the payment service recently started allowing users to pay in cryptocurrencies while its latest change has also added crypto-purchases to the list of services Skrill now offers.

As of now, any Skrill user can buy not only Bitcoin but also Litecoin, Ethereum, and Bitcoin Cash through the wallet service by using over 100 different payment methods and over 40 fiat currencies. And if you already have a wallet, you won’t need to go through any additional identity checks to purchase or sell coins. If you use US dollars or Euros to buy, you will need to pay only a 1.5% commission. Other currencies, however, are charged a higher 3% commission.

Now that the feature is already implemented, Skrill is reportedly hoping to make it available in its mobile app as well to allow users to buy, sell, and deposit crypto on the move. According to official announcements from the company, plans were also made to implement the feature in Neteller wallets, which are owned by the same parent company of Skrill. Unlike Skrill, Neteller introduced Bitcoin transfers way back in 2015.

October 10, 2018: • No Comments

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