Malta Gaming Authority Disavows Kaiyun.io's False Gaming License Claims
LISTEN TO THIS ARTICLE:The Maltese Gaming Authority (MGA) has issued a statement disassociating itself from the Asian betting platform Kaiyun.io. The company, also known as Kaiyun Sports, provides users with a digital sports betting platform where they can bet on sports events and casino games like baccarat, card games, lottery, and e-sports.
The company claims to be registered in the British Virgin Islands and licensed by the Malta Gaming Authority, a statement the Authority has now refuted.
MGA Warns Against False Gaming License Claims
According to the MGA, "any reference to the MGA and/or gaming licence/s said to be issued by the Maltese Authority, as stated by Kaiyun.io, is false and misleading."
In its statement, the MGA also reminded consumers to verify the licensing and authorization of any entity before using its services.
The regulatory framework for gaming mandates that authorized individuals must comply with strict legal standards to protect consumers' interests.
"The activities of unlicensed entities are unregulated and do not provide the necessary safeguards delineated by virtue of the framework, making transactions with such entities risky for consumers." The statement read.
Kaiyun Sports has existing partnerships with Chelsea FC and Nottingham FC in the English Premier League. As of the time of writing this news, the operator still features the MGA logo on its site.
MGA Regulatory Powers
As the primary gaming regulator in Malta, MGA is responsible for protecting vulnerable players and ensuring businesses maintain fair and transparent practices in its jurisdiction.
The MGA can revoke gaming licenses for providers and take legal action against those who violate gaming laws and regulations. Last week, the regulator officially canceled AMGO iGaming Malta license for committing three different regulatory violations.
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