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Crypto on the regulatory radar
UK Gambling Commission Executive Director Tim Miller has signaled that the regulator is ready to explore cryptoassets as a legitimate payment method for licensed gambling in Great Britain. Speaking at the Betting and Gaming Council AGM, Miller said the move would align with broader financial services reforms currently progressing through parliament.
Central to the shift is the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025, introduced in December 2025, which would bring crypto under the oversight of the Financial Conduct Authority. The new regime is expected to take effect in October 2027.
A ‘tentative first step’ toward licensed crypto payments
Miller stopped short of setting firm timelines, but confirmed the Commission’s Industry Forum has been tasked with examining how cryptoassets could be introduced as a consumer payment option within the existing licensing framework.
“We do now want to start looking at what the potential path forward would be to create a way for cryptoassets to be used as a consumer payment option for licensed and regulated gambling in Great Britain,” he said, acknowledging the clear demand from punters.
Tackling the illegal market through innovation
The proposal also has an enforcement angle. Commission research shows that ‘crypto’ ranks among the most common search terms directing British consumers to unlicensed gambling sites — making regulated crypto payments a potential tool for keeping players within the legal market.
“Innovation should be and can be one of our central consumer protection tools when it comes to the illegal market,” Miller said, framing the initiative as a way to compete with, rather than simply crack down on, unlicensed operators.
The regulator’s illegal market enforcement efforts received a further boost with £26 million in additional government funding. Miller also revealed that Meta has committed to working more closely with the Commission, particularly regarding the promotion of ‘not on GamStop’ sites.
Call for regulatory stability
With much of the Gambling Act Review implementation now underway, Miller used the AGM to call for a period of stability — warning that constant reform risked becoming a “regulatory treadmill” that consumes energy without driving meaningful progress.
Miller also addressed the upcoming departure of CEO Andrew Rhodes, who steps down on 30 April. Deputy Chief Executive Sarah Gardner will serve as acting CEO while a permanent replacement is sought. Miller paid personal tribute to Rhodes, describing him as both an outstanding leader and, in his own words, “one of the best human beings I’ve met.”
