A newly established body in Timor-Leste aims to promote the licensing and regulation of the iGaming industry in the country, according to a Tuesday press release.
The Virtual Gaming Association of Timor-Leste is described as an “independent administrative body,” supported by an “extensive partnership network” aiming to promote the iGaming initiative in that nation.
The association said it was currently working on licensing and regulation proposals for the industry, with the aim for such licences to be “issued by the second quarter of next year,” according to its website.
The organisation “is currently focused on consultation from the industry, via its membership, to develop best practices for Timor-Leste’s iGaming regulation,” it added.
The measures would include “player protection measures, technological requirements for operators,” and developing a commercial framework that would make Timor-Leste “one of the most business-friendly jurisdictions globally for the iGaming industry”.
Tuesday’s release said that some of partners involved in the process were currently attending SiGMA Europe 2023, a trade show and conference for the online gaming sector held in Malta.
That was in order to “meet with global gaming operators and receive industry feedback” that would help shape iGaming-related policies in Timor-Leste.
The announcement said that Timor-Leste’s ambassador to Indonesia, Filomeno Alexio, on Tuesday participated in the Malta Experts Insight summit. The panel also featured Antonio Sampaio of Capital S; Richard Leather of The Regulation Service; and Patrice Rodrigue of Angular Legal – who collectively addressed questions related to Timor-Leste and the possibility of regulating the iGaming industry there.
The summit commenced with an introduction by Timor-Leste’s President José Ramos-Horta, who conveyed via video his thoughts on the country’s strategic position in Asia for businesses.
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