The UK Gambling Commission (UKGC) has announced it is exploring the possibility of allowing licensed gambling operators to accept cryptocurrency (crypto) payments from consumers.
This is not yet a finalized policy change—it’s an early-stage consideration described as a “tentative first step.” The UKGC’s executive director for research and policy, Tim Miller, made the announcement during a speech at the Betting and Gaming Council’s (BGC) Annual General Meeting.
Growing consumer demand (“punters”) for crypto payment options in gambling. Evidence from the UKGC’s research showing that searches related to crypto are among the top drivers pushing British gamblers toward unlicensed and illegal websites, which often accept crypto.
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The goal is to keep activity within the regulated market, reduce risks from black-market sites; money laundering, lack of consumer protections, and support innovation while aligning with the UK’s evolving crypto regulatory framework.
This exploration ties into broader UK developments: In December 2025, the government laid the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 before Parliament. If approved, these would bring cryptoassets under the Financial Conduct Authority (FCA)’s oversight, with the new regime expected to take effect around October 2027.
Licensed gambling operators could potentially seek authorization under this FCA framework to handle crypto payments directly. Miller has tasked the UKGC’s Industry Forum (an advisory group) with examining how such payments could be implemented “sensibly” and in line with licensing objectives, including strong anti-money laundering (AML) measures, consumer protections, and addressing volatility and anonymity risks associated with crypto.
Currently, licensed UK gambling operators are generally not permitted to accept direct crypto deposits from consumers, due to challenges around traceability, source-of-funds verification, and AML risks, as noted in prior UKGC guidance.
Growing demand (“punters want crypto”) could be met legally, supporting innovation in payments while keeping gambling within a regulated framework. Operators might gain a competitive edge by offering modern options, potentially increasing market share for licensed sites.
Ties into the UK’s evolving crypto framework (Financial Services and Markets Act 2000 Cryptoassets Regulations 2025), allowing gambling firms to potentially seek FCA authorization for crypto handling. This could foster a more cohesive digital asset ecosystem.
Could help the regulated industry counter pressures like recent tax increases; remote gaming duty rising to 40% from April 2026, by attracting and retaining users who might otherwise go offshore. Money laundering (AML) and terrorist financing risks: Crypto’s pseudonymity, volatility, and speed make it inherently higher-risk for financial crime.
UKGC has long rated crypto transactions as medium-to-high risk in gambling; in remote casino assessments, noting challenges in source-of-funds verification and traceability. Even regulated, operators would need robust controls—potentially costly and complex—to meet licensing objectives.
Volatility could lead to rapid losses; depositing crypto that drops in value before play, and anonymity might hinder effective responsible gambling monitoring or recovery of funds in disputes. There’s also risk of attracting vulnerable users drawn to crypto’s “high-risk” appeal.
Crypto gambling remains prevalent on unlicensed sites, which the UKGC actively works to disrupt. This move represents a potential shift to bring crypto into the regulated space rather than banning or ignoring it, but no timeline for decisions or implementation has been set—it’s still under review.