The UK Gambling Commission is sizing up cryptocurrency as a payment option for licensed operators, following proposals that would bring digital assets under formal regulation by October 2027.

Tim Miller addressed the topic at the Betting and Gaming Council’s AGM last week. He told the industry that growing player demand and incoming regulatory clarity mean it’s time to start mapping out how crypto could work in the regulated market.

The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025, tabled in Parliament last December, would hand oversight of crypto activities to the FCA. Any firm handling cryptoassets would need FCA authorization under the new regime.

For gaming operators, that creates a potential pathway. Miller said the combination of regulatory structure and clear appetite from punters means the Commission wants to explore what a practical framework might look like.

Industry Forum Consulted on Next Steps

The UKGC has already started conversations with its Industry Forum, asking members how they see crypto payment regulation developing in the licensed sector.

Miller made clear this is an early stage inquiry, not a policy announcement.

He’s not setting deadlines or promising timelines. The focus right now is understanding what would work, what wouldn’t, and how to structure it properly if it moves forward.

The demand is real. Players have been asking for crypto options for years, and other jurisdictions have already integrated digital currency payments into their regulated frameworks. Britain has lagged behind, partly because the regulatory status of cryptoassets remained unclear.

Risks Acknowledged

Miller didn’t shy away from the complications. Cryptocurrency has deep ties to the black market gambling sector, and some of the largest unlicensed sites operating in the UK rely heavily on crypto to move money and evade controls.

The Commission will need to address those risks head on. Any framework would have to include robust checks to prevent licensed crypto payments from becoming a back door for money laundering or a tool for unlicensed operators.

That’s not a trivial challenge. Crypto’s appeal to illegal sites stems from the same features that make it attractive to legitimate users: speed, low fees, reduced friction. Striking the right balance will take careful work.

What Happens Next

Nothing is imminent. The new cryptoasset regulations won’t take effect until late 2027, and the UKGC is still in consultation mode.

But the fact that Miller raised the topic publicly signals a shift in thinking.

For years, crypto was treated as too risky, too volatile, and too closely linked to the unlicensed market to warrant serious consideration. That position is softening. With proper regulatory oversight on the horizon, the Commission sees room to explore whether crypto can be brought into the fold safely.

Operators will be watching closely. Crypto payments could open up new customer segments and reduce transaction costs, but only if the compliance burden doesn’t outweigh the benefits.

The UKGC’s challenge is designing a system that delivers both player protection and commercial viability.

Miller’s comments suggest the regulator is at least willing to try.