Malta will proceed to test cryptocurrencies, according to calvinayre.com. The Gaming Authority (MGA) is going to analyze how cryptocurrency investments can change the national economy and what benefits can be obtained in this case.

The analysis will be conducted by PWC that will initially look for cryptocurrency disadvantages and assess possible economic and political negative consequences. First off, the company will develop a private system without an access to the national global economy in order to predict and analyze cryptocurrency behavior in certain situations.

Malta’s Prime Minister Joseph Muscat says that he wants to make Malta the “blockchain capital of Europe” and confesses to be a great cryptocurrency fan.

MGA chairman Joseph Cuschieri shares the MP’s opinion and believes that Malta is ready for the comprehensive integration of cryptocurrencies and blockchain technologies into the economy. Cuschieri also adds that his department will actively cooperate with the Malta Financial Services Authority (MFSA), the Financial Intelligence Analysis Unit (FIAU) and the Central Bank of Malta (CBM) in order to provide a more accurate analysis and testing of the system.

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