UKGC Eyes Crypto Payments Amid New Cryptoasset Regime Proposals

The UK Gambling Commission (UKGC) is considering opportunities to use cryptocurrency for payments as Great Britain’s new rules on crypto could become a reality. As a result, the regulator discussed the matter with its Industry Forum, asking for opinions on the matter.

UK Mulls Over Crypto Framework, UKGC Eyes Crypto Payments in Gaming

Speaking at the recent Betting and Gaming Council (BGC) Annual General Meeting on February 26, Tim Miller, commented on a proposal to formalize new regulations on crypto assets.

Outlined in the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025, which was submitted before Parliament in December 2025, the new regime would bring cryptoassets within the regulatory remit of the FCA. If approved, the new framework will come into force on October 25, 2027.

In his speech, Miller said that the new regime means that any firm wishing to engage in cryptoasset-related activities will therefore need FCA authorization. He added that this also means certain changes for the gaming industry.

And 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 cryptoasset to be used as a consumer payment option for licensed and regulated gambling in Great Britain.

Tim Miller

Miller Acknowledged Certain Risks and Challenges

Miller said that he has asked the Industry Forum about its opinion as a “tentative first step.” He added that he asked the forum members how they think the regulation of cryptoasset payments in legal gaming could potentially progress.

Miller noted that he is not going to set any deadline or timelines for reaching a clear plan, since it wouldn’t help anyone. However, he emphasized that the UKGC acknowledges the demand for crypto payments in regulated gaming and is currently considering how to best respond to it.

Miller also acknowledged that cryptocurrencies are also associated with some of the biggest illegal gaming sites and vowed to consider the significant challenges and risks related to the potential adoption of crypto in gaming payments.