Gambling Commission executive director Tim Miller has said the regulator has taken a “tentative first step” in exploring how crypto could be used as a payment method for UK licensed operators.
Speaking at the Betting and Gaming Council AGM on Thursday, 26 February, Tim Miller said he had asked the GC’s Industry Forum to investigate the topic.
While Miller did not provide any “deadlines or arbitrary timelines”, he acknowledged it was clear demand for crypto existed in the UK.
He said: “Our illegal markets research also gives us evidence that crypto is one of the two biggest searches that lead British gamblers to illegal sites.
“There will be significant challenges and risks to overcome in considering this topic but I am keen we approach this in the spirit of exploring the art of the possible rather than starting from a position of finding all the reasons not to innovate.”
Miller’s comments came after the government put the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 before parliament in December.
If approved, the legislation will bring cryptoassets under the Financial Conduct Authority’s regulatory purview. Any such cryptoasset regime is expected to come into force on 25 October 2027.
Miller said the legislation would “change the picture” for crypto in the UK and that he had asked the Industry Forum to explore how the topic could be “progressed sensibly and in line with the licensing objectives”.
Using crypto as a payment method with licensed gambling operators in the UK remains off the table, but it is deployed widely by black market sites.
Miller noted the innovation was key, especially once the GC’s role in implementing the 2023 white paper recommendations concludes.
He added: “Supporting innovation is something we want to be able to point some of our resources towards.
“And again, given the changing picture and our expectation of growth in the illegal market, we think this is important in terms of helping keep consumers safe.
“Innovation should be and can be one of our central consumer protection tools when it comes to the illegal market.”
Miller also said he had received reassurances from Meta that it would work with the regulator to end the advertising of illegal sites on its platforms.
During his keynote speech at ICE in Barcelona in January, Miller lambasted the Facebook parent company for providing offshore operators with an advertising opportunity.
Miller spoke with EGR at the exhibition when he labelled ‘not on GAMSTOP’ sites as “insidious”.
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The post Gambling Commission taking “tentative” step in exploring crypto payments first appeared on EGR Intel.
Executive director Tim Miller says wider cryptoasset legislation and consumer demand has seen regulator open the door to allowing betting operators to offer payment method
The post Gambling Commission taking “tentative” step in exploring crypto payments first appeared on EGR Intel.