UK Gambling Regulator Weighs Crypto Payments for Betting

The UK Gambling Commission is actively exploring whether crypto payments should be permitted at licensed online casinos, its executive director for research and policy, Tim Miller, revealed on Thursday. Miller outlined the initiative at the Betting and Gaming Council's annual general meeting in London, noting that the watchdog intends to examine a potential path forward for cryptoassets as a consumer payment option within Great Britain's regulated gambling sector. Any rollout would still demand strict affordability and suitability checks, with all crypto-related activity requiring Financial Conduct Authority authorization.

Gambling Commission Tasks Industry Forum With Crypto Review

Miller did not impose a timeline for the review but has tasked the Industry Forum, an advisory body representing gambling sector professionals, with evaluating the most effective route toward accepting cryptocurrency. Under the upcoming regulatory framework, companies conducting regulated crypto activities will need authorization from the FCA under the Financial Services and Markets Act 2000, according to Miller's published remarks.

One key motivation behind the proposal is consumer protection. Miller pointed to internal research showing that crypto ranks among the two largest search terms driving British gamblers toward unlicensed operators.

Our illegal markets research also gives us evidence that crypto is one of the two biggest searches that lead British gamblers to illegal sites.

— Tim Miller, Executive Director for Research and Policy, UK Gambling Commission

Will Crypto Payments Protect UK Gamblers?

Allowing crypto payments at regulated betting platforms could channel users away from unregulated offshore sites and into a supervised ecosystem, according to the Gambling Commission. However, Miller clarified that permitting crypto as a payment rail does not mean decentralized crypto casinos themselves will gain UK licensing. Such platforms, he noted, would likely fail the customer suitability checks required by British law.

FCA Crypto Licensing Regime Targets October 2027

The Gambling Commission's announcement arrives alongside a broader push by the FCA to formalize crypto oversight. The authority has published a final consultation containing ten proposals for crypto market regulation, with the review expected to wrap up in March and full implementation slated for October 2027.

Earlier in January, the FCA established a timeline for its new crypto licensing regime. Firms must seek full authorization before the system goes live on October 25, 2027, with the application window set to open in September 2026, according to a document the authority published on January 8. Crypto asset service providers that fail to apply during the designated window will be subject to transitional rules, which permit continued operation of existing products but bar the introduction of new offerings.