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UK Gambling Commission Opens Door to Crypto Payments, With Cautious Optimism

03 November 2026

The UK Gambling Commission has started preparing to allow cryptocurrencies as legal tender for its regulated gambling industry - a move timed to coincide with expected financial reform by the Financial Conduct Authority. Tim Miller, the regulator's chief, told industry leaders that a "tentative first step" is now being made toward this goal.

At a meeting of operators and their representatives, Miller outlined a path forward on crypto which aims to reinforce, not weaken, the regulator's objectives on money laundering. "We are starting to consider how cryptoassets might fit within our regime, but this has to be a slow and careful process," he said.

That said, he did not announce a strict deadline. Rather, Miller indicated that the regulator's Industry Forum will be tasked with examining the issue "as part of our ongoing work on the gambling industry's approach to financial activities." In practice, this means the Commission's plans are not expected to be implemented until after the FCA has completed its legislative process, and finished consultation with the Treasury, to legalize cryptocurrency.

Scheduled for 10 October 2027, the "Cryptoassets regime" was introduced in Parliament in early December 2025, assuming inclusion in Schedule 8 of the Financial Services and Markets Act 2000. In principle, peer-to-peer use and inter-user transfers would be permitted, extending a basic right enjoyed by traditional currency for centuries.

Operational Requirements

But gambling doesn't regulate itself. Reports suggest that any casino or sportsbook wishing to accept crypto payments from 10 October 2027 would need to comply with anti-money laundering procedures. Verification of origin would be standard, with documentation of sources-of-funds required. In a policy update, the Commission stated that licensees must disclose any such payment innovations "without undue delay" - "typically, within 14 days" - and that management board review is mandatory.

While accepting crypto may not always require a formal licence - according to a Treasury press release - it would if cryptoassets are exchanged for chips. This applies to foreign-exchange operators too, where "stake" is converted into local legal tender.

These developments have raised concerns among operators about the impact on technology, costs, pricing strategies, and customer relations. Reports indicate crypto use surged after Russia introduced invoicing in alternative currencies, with many businesses adopting crypto. "I processed nearly 70 transactions in that timeframe," one London casino owner told an industry analyst. "Demand exists, and my team is ready, but we need clearer guidance from Westminster."