Tim Miller says the Commission is open to exploring cryptocurrency as a payment method for licensed gambling operators, but warned that crypto’s role in powering major illegal gaming sites means the risks must be taken seriously.
The UK Gambling Commission has begun examining whether cryptocurrency could be integrated into regulated gambling payments, coinciding with Great Britain’s push to formalize a new national framework for cryptoassets. The regulator recently raised the issue with its Industry Forum, seeking early feedback.
New Crypto Regime Could Reshape Gambling Payments
Speaking at the Betting and Gaming Council’s Annual General Meeting on February 26, Miller addressed the government’s proposal to introduce the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025. Submitted to Parliament in December 2025, the regime would place cryptoassets under the Financial Conduct Authority’s oversight beginning October 25, 2027, if approved.
Miller noted that any company wishing to engage in cryptoasset activities would require FCA authorization, a shift that could have direct implications for gambling operators.
“The growing appetite we see from punters means we now want to start looking at what a 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.
Industry Forum Consulted as First Step
Miller described his outreach to the Industry Forum as an initial, exploratory move. He asked members how they believe crypto payments could be regulated within the legal gambling market and emphasized that the Commission is not setting deadlines for a formal plan.
While acknowledging demand from consumers, Miller said the UKGC must also weigh the substantial challenges involved. He highlighted that cryptocurrencies are heavily used by some of the world’s largest illegal gambling operators, underscoring the need for caution as the regulator evaluates whether—and how—crypto could be safely integrated into the regulated sector.
