The UK Gambling Commission will begin examining whether cryptoassets can be introduced as a payment method for licensed gambling in Great Britain, as new financial regulations for digital assets move through Parliament and enforcement action against unlicensed operators expands.
Executive Director Tim Miller said the commission’s Industry Forum has been tasked with considering how cryptoassets could be used to fund legal gambling in a manner aligned with licensing objectives. He did not provide a timeline for further steps but described the move as an early-stage review prompted by regulatory change and consumer demand.
In December, the government introduced the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025. If approved, the legislation would bring cryptoassets under the authority of the Financial Conduct Authority, with the regime expected to take effect on October 25, 2027.
“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.”
He said the evolving financial oversight structure, together with increased consumer interest, has led the commission to consider how cryptoassets might fit within the existing gambling framework.
“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.
Commission research shows that “crypto” is one of the two most common search terms directing British consumers to unlicensed gambling websites.
“Innovation should be and can be one of our central consumer protection tools when it comes to the illegal market,” Miller added.
The regulator has secured £26 million ($34.78 million) in additional government funding to strengthen its response to unlicensed operators. Miller said enforcement requires cooperation beyond the commission itself, including engagement with technology 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.”
While outlining these initiatives, Miller also cautioned against continual regulatory change as the Gambling Act Review nears completion.
“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.”
Original article: https://www.yogonet.com/international/news/2026/03/02/117846-uk-gambling-regulator-weighs-allowing-crypto-payments-as-illegal-market-pressure-grows
