24 June 2023
Industry News
Malta Advances in iGaming Industry with Groundbreaking Bill 55 Legislation
In a monumental move to safeguard its digital entertainment economy, Malta’s government has adopted Bill 55, a significant stride towards reducing foreign liability in the thriving iGaming industry. This innovative legislation is expected to reinforce Malta’s standing as an esteemed global center for online gaming.
Bill 55 primarily aims at shielding Malta’s rapidly growing iGaming sector from potential legal threats emanating from foreign jurisdictions. This development comes as a relief to businesses operating within the sector, which were previously exposed to such risks. Thanks to the new bill, the Malta-based gaming companies can now look forward to a more secure business environment, potentially boosting the sector’s sustainable development.
The enactment of this law has been warmly received by the iGaming operators stationed in Malta, who view this as a critical advancement in fortifying Malta’s image as a regulated and secure haven for digital gaming businesses.
Nevertheless, this initiative has raised eyebrows among some skeptics who express fears that it could lead to slack corporate conduct and foster illegal operations within the sector.
In response to these apprehensions, Maltese officials have reiterated their commitment to maintain a strong regulatory structure, which will persistently safeguard the integrity of Malta’s iGaming industry.
The passage of Bill 55 marks a key milestone in Malta’s journey to cement its position as a leading jurisdiction in the iGaming world. This regulatory move is expected to attract more foreign investors and stimulate unprecedented innovation within the industry, highlighting Malta’s proactive approach towards its digital gaming economy.