The UKGC has begun exploring the use of cryptocurrencies as payment methods in legal gambling. This initiative comes amid preparations for new niche regulations and a stepped-up crackdown on illicit operators.
The Commission’s Executive Director announced that the Industry Forum has been assigned to examine how virtual assets can be used to finance gaming. Another important simultaneous task, according to Tim Miller's statement, is complying with licensing requirements.
The project is still in the early stages of the analysis. No specific timeframe for further decisions or rule changes has been announced yet.
Oversight of Payments with Digital Tokens
On December 15th, 2025, the country’s government rolled out the final Financial Services and Markets Act 2000 (Cryptoassets) Regulations. If endorsed, the legislation would place decentralised transactions under the Financial Conduct Authority's control.
Key notions of the proposed initiative:
- Start point. The new system is planned to come into effect on October 25th, 2027.
- Licensing nuances. Companies willing to work with virtual coins will be required to obtain the appropriate authorisation before the new regime is launched.
- Triggers. The development of regulations and growing player interest in Web3 currencies are driving the UKGC to consider their implementation in the certified gambling sector.
The Commission’s members acknowledge that the use of digital tokens entails some risks and technical challenges. Mr Miller noted that the discussion should focus on finding possible solutions, not just on reasons to avoid innovation. He believes cutting-edge breakthroughs can and should serve the purpose of consumer protection, particularly in the fight against illegal markets.
Virtual Currencies and Grey Brands' Growth
The UKGC’s research shows that the word «crypto» has become one of the most popular search queries, leading British users to unlicensed iGaming portals. The authority’s representatives consider the introduction of innovative tools a helpful way to reduce the appeal of uncertified platforms and enhance player protection.
The Commission has received an additional £26 million in government funding to strengthen its fight against illicit operators.
Mr Miller noted that effectively combating the grey market requires close interaction between:
- affiliate networks;
- regulatory bodies;
- payment providers;
- technology platforms.
The expert also reported that the UKGC’s members have already held meetings with major companies, like Meta. Those gatherings were aimed at deepening collaboration to block websites operating outside GamStop's player self-exclusion system.
Mr Miller also emphasised that after the review of the gaming law is done, it is important to avoid constant rule changes. According to him, an endless reform process could lead to a situation where the industry spends significant resources but fails to achieve real progress. It is precisely the scenario the regulatory body wants to avoid.
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