The Gambling Commission of UK is investigating if they should allow licensed online casinos and betting platforms to accept cryptocurrency as a payment method.
Tim Miller, the executive director, stated that the regulator is looking to figure out “the potential path forward” for the integration of crypto assets without compromising affordability and suitability checks.
Any implementation of such a plan would require firms to get the FCA authorization under the Financial Services and Markets Act 2000, thus being in line with the upcoming cryptoasset regime that is expected to be launched in October 2027.
Recognizing that crypto, related queries are among the main reasons why people visit illegal gambling sites, Miller pointed out that a regulated crypto payment method might redirect such users towards licensed operators.
A regime that enforces identity verification, source, of, funds checks, and anti, money laundering controls will probably reduce people’s exposure to unlicensed platforms.
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The FCA’s final consultation paper reveals ten proposals for crypto markets, with the full implementation expected by late 2027 and the opening of an application window in September 2026.
Companies that offer regulated crypto services must be granted permission by the FCA, and those who fail to meet the deadline will be subject to transitional rules limiting the introduction of new products.
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The main problems are crypto volatility, custody and exchange compliance, as well as operators meeting the suitability standards. The Gambling Commission has given its Industry Forum the responsibility to come up with a “reasonable” road but no definite time for completion has been announced.
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