The United Kingdom’s Gambling Commission is examining whether cryptocurrencies could be accepted for payments at licensed online casinos as Britain prepares to bring more crypto activity under a new regulatory regime led by the Financial Conduct Authority (FCA).
Tim Miller, the commission’s executive director for research and policy, said Thursday that the regulator wants to explore “the potential path forward” for permitting “cryptoasset to be used as a consumer payment option for licensed and regulated gambling in Great Britain.” Miller made the remarks at the Betting and Gaming Council’s annual general meeting in London, according to his published speech.
Miller noted that companies conducting regulated crypto activities will need authorization from the FCA under the Financial Services and Markets Act 2000 (FSMA) once the new regime takes effect.
“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 cryptoasset to be used as a consumer payment option for licensed and regulated gambling in Great Britain,” he said.
The commission has asked the Industry Forum, an advisory group representing gambling sector workers, to map out the best route toward accepting cryptocurrency payments, though no deadline was set. Miller said enabling regulated crypto payments could help steer British gamblers away from illegal sites.
“Our illegal markets research also gives us evidence that crypto is one of the two biggest searches that lead British gamblers to illegal sites,” Miller said, arguing that regulated acceptance of crypto might be an important consumer protection measure.
However, he warned that allowing crypto payments doesn’t mean all crypto casinos would be within UK regulatory reach, since some operators would struggle to meet customer suitability checks.
The comments come amid wider FCA moves to regulate crypto markets. The FCA released a final consultation outlining 10 proposals and is expected to conclude that process in March, with full implementation targeted for October 2027. The regulator has said it expects the application period for its new crypto licensing regime to open in September 2026, with firms required to secure full authorization before the regime goes live on Oct. 25, 2027.
Crypto asset service providers (CASPs) that miss the application window will be subject to transitional rules that permit existing products but limit new offerings.
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