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UK Embraces Crypto: Gambling Commission Explores Digital Payments for Licensed Betting

The U.K. Gambling Commission is seriously considering the introduction of cryptocurrency payments for licensed betting operators.

This initiative aims to cater to rising consumer demand while simultaneously combating illegal gambling markets.

Tim Miller, the Executive Director of the Commission, noted that recent findings reveal that many bettors are turning to unlicensed sites due to the allure of crypto.

The exploration aligns with the U.K. government's upcoming Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025, which will bring cryptoassets under the Financial Conduct Authority's jurisdiction by 2027.

To responsibly integrate crypto payments, the Commission is working with its Industry Forum to ensure compliance with existing anti-money laundering regulations.

Miller emphasized the importance of evaluating both the potential advantages of crypto and the inherent risks involved.

The proposal aims to deter consumers from unregulated offshore sites by offering a secure option within the licensed framework.

Although allowing crypto payments does not endorse offshore casinos, operators must still meet strict compliance standards.

This move signifies a notable shift in the U.K.'s regulatory framework, aiming to embrace innovation while prioritizing consumer protection.

As regulations advance, the Commission’s findings could enhance the safety of cryptocurrency transactions for bettors in the U.K.