The UK Gambling Commission is set to examine whether licensed betting operators should be allowed to accept cryptocurrency payments, as the country advances plans to regulate digital assets.
The Financial Conduct Authority is due to complete its framework for overseeing crypto-related activity in 2026, with implementation anticipated by late 2027.
Gambling companies could be among the businesses seeking crypto licences once the new system is in place, according to Mr Tim Miller, the commission’s executive director of research and policy, speaking on Feb 26.
“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 crypto-assets to be used as a consumer payment option for licensed and regulated gambling in Great Britain,” Mr Miller said at the Betting and Gaming Council’s annual general meeting in London.
Roughly 8% of adults in the UK hold cryptocurrencies. That proportion fell in 2025, even as Bitcoin surged to an all-time high in October before retreating.
The digital-asset sector has been working to strengthen engagement with British regulators and policymakers, aiming to shape legislation in a market seen as trailing the United States and the European Union in crypto rule-making.
Mr Miller said he had tasked the Industry Forum, an advisory body representing employees across the gambling industry, with considering how crypto payments might be “progressed sensibly”.
He added that enabling regulated operators to accept digital assets could help curb the appeal of illegal gambling platforms.
“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,” Mr Miller said.
Unlawful gambling businesses accounted for 71 per cent of Europe’s online betting and casino market in 2024, according to figures from Yield Sec released in August.
In Britain, separate research by the same firm in January indicated that unlicensed operators, some using pirated streaming sites, have expanded to represent 9 per cent of the domestic gambling market.
Mr Miller clarified that permitting cryptocurrency transactions with licensed bookmakers would not automatically open the door to regulating crypto-only casinos in the UK, as such platforms would be unlikely to meet know-your-customer and suitability standards.