The Malta Gaming Authority (MGA) has published a consultation paper setting out a proposed framework for cryptocurrency gambling that, if adopted, would represent one of the most significant regulatory interventions in the crypto-gambling space by any major European regulator.
The core proposal is that MGA-licensed operators wishing to accept cryptocurrency would be restricted to stablecoin transactions only — specifically those stablecoins that are regulated under the European Union's Markets in Crypto Assets (MiCA) framework, which came into full force in 2024. The use of volatile crypto assets — Bitcoin, Ethereum, and other non-stable digital currencies — for wagering would be prohibited.
The MGA said the stablecoin-only approach is designed to address three regulatory concerns: the consumer risk arising from wagering with assets whose value can fluctuate significantly between deposit and withdrawal; the money laundering risk associated with pseudonymous blockchain transactions; and the difficulty of applying standard affordability assessments when player account balances are denominated in volatile assets.
"Our framework must evolve to reflect the reality of how players are seeking to interact with gambling products. But evolution must be responsible," said MGA CEO Yanica Sant.
The consultation has drawn a mixed response from the industry. Crypto-native gambling operators — the majority of which operate without MGA or any other major European licence — warned that a stablecoin-only restriction would prevent licensed operators from competing effectively for crypto-preferring players. Several MGA-licensed operators expressed broad support for the framework as a means of creating regulatory clarity.
The consultation closes on 30 April 2026, with a final framework expected before year-end.
Source: Malta Gaming Authority
Marcus De Luca
Regulation Correspondent
Member of the iGaming Pulse editorial team. Covering industry news, analysis, and B2B developments across the global iGaming sector.
