Apart from trading, real-world use cases for digital currencies are starting to emerge. In the gambling sector, the popular cryptocurrency has recently been recognized by the UK Gambling Commission (UKGC) as an acceptable payment method available to its licensees.

However, other global regulators—like the Malta Gaming Authority (MGA)—have yet to follow. And this, according to investment broker Exante, is dampening the prospects of digital currencies.

“The acceptance of bitcoin as payment method would no doubt help popularize it among online casinos and gamers while also attracting bitcoin casinos that currently use fiat currency,” Exante said in a statement.

The MGA is still taking a wait-and-see approach towards allowing its licensees to handle transactions in digital currencies. Joseph Cuschieri, executive chairman of the gaming regulator, said they received “very few requests” from licensees looking for authorization to handle bitcoin transactions—requests that MGA had “always refused” because he believes the use of such technology by MGA licensees are “a risk.”