UK Gambling Commission Executive Director Tim Miller said the regulator will explore the use of cryptoassets as a payment method in licensed gambling.
Speaking at the Betting and Gaming Council AGM, Miller said the regulator will examine how crypto could fit within the UK’s regulatory framework. This, he added, would form part of wider financial services reforms.
In December 2025, the government introduced the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 into parliament. If approved, this would bring cryptoassets under the remit of the Financial Conduct Authority (FCA), the UK’s financial regulator. The new cryptoasset regime is expected to come into force on 25 October 2027.
‘Tentative’ first step for cryptoassets and gambling
Miller said the commission’s Industry Forum will be tasked with examining how cryptoassets could be used to fund legal gambling. However, he stopped short of setting any deadlines or timelines as to when this could commence.
“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 linked to illegal gambling
Miller also linked the move to efforts to combat the illegal market, noting that Commission research shows ‘crypto’ is one of the two most common search terms directing British consumers to unlicensed gambling sites.
“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 review implementation under way, Miller called for a period of regulatory stability. He said industry would benefit from time to assess the impact of recent reforms, rather than 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.”
Illegal market enforcement backed by fresh funding
Miller also highlighted the regulator’s intensified focus on the illegal gambling market. On this, he welcomed £26 million in additional government funding to support enforcement activity.
However, he also said tackling unlicensed operators would require coordinated action beyond the regulator alone, including cooperation from tech platforms, payment providers and affiliates.
“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.”
Commission continues search for new CEO
Miller also used the opportunity to address Andrew Rhodes’ upcoming departure as CEO of the commission. The regulator confirmed earlier in February that Rhodes would step down on 30 April.
Deputy Chief Executive Sarah Gardner will step up as acting CEO, picking up Rhodes’ work while the commission initiates the process of recruiting a full-time chief executive.
“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.”
Original article: https://igamingbusiness.com/crypto-gambling/gambling-commission-to-consider-allowing-cryptoasset-payments/
