The Malta Lotteries and Gaming Authority is currently putting together the legislative framework for a new licensing regime encompassing online casinos, sports betting, betting exchanges and lotteries, according to a report from the Malta Business Weekly on Thursday.
The news service revealed that: 'This framework has the objective of providing regulation which is strong and serious but not unecessarily bureaucratic, ensuring vigorous protection for users of online gaming, and dovetailing with Malta's long-established and reputable financial services sector.'
The MBW revealed that the new legal framework is expected to be in place by the end of this year, and that the first licences will be issued in early 2003.
A comprehensive report on the online gambling situation in a number of offshore jurisdictions is available in the Tax-News Reports shop at http://www.tax-news.com/reportshop/
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