UK Gambling Commission Weighs Crypto Payments as Part of Broader Regulatory Shift

The UK Gambling Commission is preparing to examine whether cryptoassets could be introduced as a payment method for licensed gambling operators, marking what officials describe as an exploratory but significant development in the regulator’s approach to innovation and consumer protection.

Speaking at the Betting and Gaming Council’s annual general meeting, Tim Miller, Executive Director of the UK Gambling Commission, confirmed that the regulator will assess how cryptoassets might operate within the country’s existing gambling framework. The review will form part of broader reforms to the UK’s financial services landscape.

In December, the government laid the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 before Parliament. If approved, the regulations would place cryptoassets under the supervision of the Financial Conduct Authority (FCA). The new regulatory regime for cryptoassets is expected to take effect on 25 October 2027.

‘Tentative’ First Step Toward Crypto Integration

Miller explained that the Commission’s Industry Forum will be tasked with considering how cryptoassets could potentially be used to fund legal gambling activities in Great Britain.

However, he refrained from providing any specific timeline for when such a framework might be introduced.

“Firms wishing to undertake any of the new cryptoasset regulated activities will need to be authorised by the FCA under FSMA with permission to undertake those activities at the point the new regime commences,” Miller said. “These steps, progressing the FCA’s roadmap, do change the picture.

“And that, as well as the growing appetite we see from punters, means we do now want to start looking at what the potential path forward would be to create a way for cryptoassets to be used as a consumer payment option for licensed and regulated gambling in Great Britain.

“As a tentative first step, I’ve asked our Industry Forum to look at how they think this could be progressed sensibly and in line with the licensing objectives. At the commission, we know this is something where demand exists.”

Crypto’s Link to the Illegal Market

Miller also connected the exploration of crypto payments to the regulator’s wider battle against unlicensed operators. Research conducted by the Commission indicates that “crypto” ranks among the two most frequently used search terms leading British consumers to illegal gambling platforms.

“There will be significant challenges and risks to overcome in considering this topic but I am keen that we approach this in the spirit of exploring the art of the possible rather than starting from a position of finding all the reasons not to innovate,” Miller said.

“As we slowly but surely get towards the time our own role in implementing the Gambling Act Review will come to an end, supporting innovation is something that we want to be able to point some of our resources towards. And again, given the changing picture and our expectation of growth in the illegal market, we think this is important in terms of helping keep consumers safe.

“Innovation should be and can be one of our central consumer protection tools when it comes to the illegal market.”

With much of the Gambling Act Review now being implemented, Miller argued that the industry would benefit from a period of regulatory consistency rather than continuous reform. He cautioned against remaining on what he described as a “regulatory treadmill.”

“To repeat what I said last year at Peers for Gambling Reform, getting into a position where we are on an endless treadmill of reform will not take us any further forward in figuring out what works,” he said. “Like a treadmill, we will risk expending a lot of energy just to go nowhere. That’s not an outcome the commission wants.”

Enforcement Boosted by Additional Funding

Turning to enforcement, Miller emphasised the Commission’s intensified focus on tackling the illegal gambling market. He welcomed £26 million in additional funding from the government to bolster enforcement efforts.

However, he stressed that addressing unlicensed gambling operations would require coordinated action beyond the regulator alone, including collaboration with technology companies, payment service providers and affiliate networks.

“Since my speech at ICE, I have met with Meta and they have committed to working with the commission further in this space, especially in relation to ‘not on GamStop’ sites,” he said. “I intend to hold them to that.”

Leadership Transition Underway

Miller also addressed the impending departure of the Commission’s chief executive, Andrew Rhodes. The regulator confirmed earlier in February that Rhodes will step down from his position on 30 April. Deputy Chief Executive Sarah Gardner will assume the role of acting CEO while the recruitment process for a permanent successor begins.

“I want to put on record my own thank you to Andrew for his excellent leadership for the nearly five years he has been at the commission,” Miller said. “Speaking personally, he is an amazing boss to work for and frankly one of the best human beings I’ve met.

“I’m not the only one at the commission who will miss him when he goes.”

By fLEXI tEAM