Regulator explores path to allow crypto for licensed casinos

The United Kingdom’s Gambling Commission is examining whether cryptocurrency could be permitted as a payment method for licensed online gambling operators in Great Britain. The move comes as the country prepares to introduce a broader regulatory framework for crypto assets under the Financial Conduct Authority.

Tim Miller, executive director for research and policy at the Gambling Commission, said the regulator wants to assess the potential route for allowing crypto assets to be used as a consumer payment option within the regulated gambling market. He made the remarks during a speech at the annual general meeting of the Betting and Gaming Council in London.

Miller noted that there is growing interest among gamblers in using digital assets for transactions. At the same time, upcoming changes to financial regulation mean that crypto related businesses will soon face tighter oversight.

FCA authorization will be mandatory

Under the new regime, companies carrying out regulated crypto activities will need authorization from the Financial Conduct Authority under the Financial Services and Markets Act 2000 once the framework comes into force.

The FCA recently issued a final consultation outlining 10 proposals covering different aspects of crypto markets. The regulator is expected to complete that process in March, with full implementation of the new rules scheduled for October 25, 2027. The application window for firms seeking authorization is expected to open in September 2026.

Crypto asset service providers that fail to apply within the designated period will fall under transitional arrangements. These rules will allow them to continue offering existing products but will prevent them from launching new services.

For gambling operators, this means that any integration of crypto payments would depend on whether the crypto firms involved have secured FCA approval.

Industry forum asked to assess options

Miller said he has asked the Industry Forum, an advisory group representing workers across the gambling sector, to examine how crypto payments could be introduced in a responsible manner. No specific timeline has been set for the group’s recommendations.

The review will likely focus on how to align crypto payments with existing safeguards in the gambling sector, including affordability and suitability checks. Miller made clear that any future rollout would still require strict controls to protect consumers.

Accepting crypto would not exempt operators from meeting regulatory standards, and casinos themselves would not be subject to separate crypto regulation. Instead, the focus would be on ensuring that payment providers are properly authorized and that gambling companies continue to meet existing compliance obligations.

Consumer protection concerns and illegal markets

One of the drivers behind the review is the rise of unlicensed gambling websites. According to Miller, research conducted by the commission indicates that cryptocurrency is one of the two most common search terms that lead British gamblers to illegal sites.

He suggested that offering crypto payments within the regulated market could help steer consumers away from offshore platforms that operate outside UK oversight. By bringing crypto transactions into licensed environments, regulators hope to strengthen consumer protection and reduce exposure to unregulated operators.

However, Miller cautioned that introducing crypto as a payment option does not automatically resolve broader concerns about gambling harms. Operators would still need to ensure that customers pass affordability and suitability checks, which may present challenges for certain users.

Long road before any final decision

While the commission has begun exploring the idea, no formal proposal has been put forward. Any decision will likely depend on the progress of the FCA’s crypto framework and the findings of the Industry Forum.

The FCA’s broader crypto regime, set to take effect in 2027, will mark a significant shift in how digital asset businesses operate in the UK. Only firms that obtain full authorization will be able to provide regulated crypto services once the regime goes live.

For now, the Gambling Commission’s review signals an openness to adapting to changing payment preferences, but it also underscores that consumer protection standards will remain central to any change.