UK Gambling Commission reviews crypto payments for betting

The UK Gambling Commission is reviewing crypto payments for licensed gambling, aiming to balance innovation, consumer protection, and anti-money laundering amid rising demand.

The UK Gambling Commission is actively considering whether to permit cryptocurrencies as a payment method for licensed gambling operators. Currently, UK-licensed betting firms are not allowed to accept crypto payments due to concerns about anti-money laundering, consumer protection, and regulatory compliance. However, increasing consumer demand and evidence that crypto-related searches are driving users to unlicensed sites have prompted regulators to explore a regulated approach. The Commission is now assessing how crypto payments could be introduced while upholding strict licensing objectives, including robust anti-money laundering controls and consumer safeguards. This review aligns with broader financial regulatory trends and the forthcoming Financial Conduct Authority (FCA) crypto asset framework, expected to be finalized this year and enforced by late 2027. Industry experts believe that regulated crypto payments could enhance cross-border transactions and boost the competitiveness of the UK gambling sector, while bringing currently unregulated activity under official oversight.