UKGC Explores Crypto Payment Options for Licensed Gambling

The UK Gambling Commission (UKGC) has signaled plans to examine how crypto assets might be integrated as a payment method for licensed gambling operators in Great Britain. Speaking at the Betting and Gaming Council’s Annual General Meeting, Executive Director Tim Miller confirmed the Commission has tasked its Industry Forum with exploring “what a sensible pathway might look like” for allowing crypto payments while staying aligned with existing licensing objectives.

This initiative follows the government’s introduction of the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025, recently presented to Parliament. If enacted, the regulations would bring crypto asset activities under the supervision of the Financial Conduct Authority (FCA), with firms required to hold authorization and specific permissions for regulated activities. The framework is expected to come into effect on 25 October 2027.

Regulatory Shifts Prompt Examination

Miller highlighted that evolving regulations and rising consumer interest are prompting the UKGC to assess whether licensed operators could offer a compliant route for crypto transactions. “We do now want to start looking at what the potential path forward would be to create a way for crypto assets to be used as a consumer payment option for licensed and regulated gambling here in Great Britain,” he said, describing the work as a “tentative first step.”

The Commission has not established a timeline for the project, with Miller emphasizing that no arbitrary deadlines will be imposed. However, research into unlicensed operators indicates that cryptocurrency is among the two most common search terms driving British gamblers toward the black market, reinforcing the potential role of regulated crypto options in protecting consumers.

“Demand exists and will probably grow,” Miller said. He further noted that innovation could act as a tool for consumer protection by discouraging players from turning to unregulated platforms.

FCA Oversight Central to Future Pathways

Any framework for crypto payments in the gambling sector would depend heavily on the FCA’s regulatory remit. Firms carrying out regulated crypto activities will need formal authorization, covering services such as custody and exchange. Miller suggested this supervision could “start to change the picture” for the UK gambling market while cautioning that “significant challenges and risks” remain in integrating crypto within the licensing framework.

The UKGC intends to ensure that any future measures continue to uphold the Gambling Act 2005’s licensing objectives, including preventing crime, ensuring fairness, and protecting vulnerable individuals. The regulator also views innovation as a complementary strategy to enforcement efforts, helping maintain player engagement within legal and safe channels.

Innovation and Consumer Safety

As the Commission nears the completion of reforms from the latest Gambling Act review, supporting innovation is becoming a more prominent focus. Miller stressed that innovation must operate within licensing objectives, noting that examples from previous regulatory changes, such as allowing physical sports betting inside casinos, show that enhancements can increase player appeal without increasing risk.

He concluded by highlighting the broader goal of collaboration between the regulator and industry. “Innovation should be and can be one of our central consumer protection tools when it comes to the illegal market,” Miller said, reinforcing the Commission’s commitment to a safe, fair, and crime-free gambling environment while exploring emerging opportunities in the sector.

Source:

“BGC AGM 2026 - Tim Miller speech”, gamblingcommission.gov.uk, February 26, 2026