Malta authorities propose rules for blockchain gaming

Malta Gaming Authority has presented a list of recommended guidelines for the blockchain gaming operators, plans to open test environment for optimization
30 March 2018   664

Blockchain has been rapidly invading all the aspects of our everyday live and gaming companies haven't been left outside of the trend. Now the companies would have to contend with the new, as of now, “proposed guidelines” to make their games with distributed ledger technology available in Malta.

Right now the regulations presented by Malta Gaming Authority are just a series of recommended guidelines for the game developers to follow. The authorities are open for feedback regarding their new proposals and they established “sandbox” environment for testing out the impact of new regulations on the industry. Ultimately, this sandbox will become not only a testing stage but the foundation for the new set of regulations for the Malta's remote gaming ecosystem.

Right now, the proposed rules for utilizing the blockchain for gaming is quite lax. The developers have to satisfy the specific range of conditions for them to be receiving cryptocurrency. In particular, they would have to provide the certain financial and technological value in return for the said funds and the services or goods they provide in return have to be freely tradeable on exchanges with “competitive market capitalization”. Also, the cryptocurrency must be integral to the company's use case.

As part of the current “sandbox mode” all the games hosted should “maintain the transparency and prove the fairness of these games” through utilizing accessible distributed ledger.

The proposed guidelines cover this and other points, including the risks involved in usage of cryptocurrencies or custom tokens as a funding method.

Binance DEX to Launch Trading

Mithril is the first asset, that is trading on new platform; also, the exchange presented the listing rules for assets
25 April 2019   83

Binance DEX announced the start of trading in the Mithril token (MITH) together with Binance Coin (BNB). This is the first asset in the listing site.

At the same time, the exchange presented the listing rules for assets. So, anyone can release a token on the Binance Chain, but listing it to the marketplace takes place in several stages.

First of all, the issuer must place a listing application on the Binance Chain community forum, providing answers to a number of questions relating to the innovativeness of the project, its scope and other characteristics.

After that, the issuer must make a deposit in the amount of 1,000 BNB within two days, which will be returned later. Note that the listing of an asset on Binance DEX must be approved by at least half of the validators.