UK Gambling Commission Executive Director Tim Miller announced that the regulator will assess the potential use of cryptoassets as a payment option within licensed gambling operations.
Speaking at the Betting and Gaming Council AGM, Miller explained that the Commission will study how cryptocurrency transactions could align with the UK’s existing regulatory framework. He added that this review would be part of broader reforms within the financial services sector.
In December, the government laid the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 before Parliament. If passed, the legislation would place cryptoassets under the supervision of the Financial Conduct Authority (FCA). The proposed regulatory framework for cryptoassets is scheduled to take effect on 25 October 2027.
‘Tentative’ first step for cryptoassets and gambling
Tim Miller stated that the commission’s Industry Forum will be assigned to assess how cryptoassets might be used to finance lawful gambling activities. However, he did not provide any specific timeframe for when such plans could move forward.
“Companies intending to carry out any of the newly regulated cryptoasset activities must obtain authorisation from the Financial Conduct Authority under FSMA, with the appropriate permissions in place when the new framework takes effect,” Miller explained. “These developments, aligned with the FCA’s roadmap, significantly alter the landscape.”
He added that increasing consumer interest has prompted the regulator to begin evaluating a possible pathway for allowing cryptoassets to serve as a payment method within licensed and regulated gambling in Great Britain.
“As an initial step, I have asked our Industry Forum to consider how this could be advanced responsibly and in accordance with our licensing objectives,” Miller said. “We recognise that there is clear demand for this option.”
Crypto linked to illegal gambling
Tim Miller also connected the proposal to efforts aimed at tackling the illegal gambling market. He noted that Commission research indicates “crypto” is among the top two search terms most frequently used by British consumers when accessing unlicensed gambling websites.
He acknowledged that introducing crypto payments would involve considerable risks and obstacles. However, Miller emphasized the importance of approaching the issue with an open mind. “There will be significant challenges and risks to address,” he said, “but I believe we should explore what is possible rather than begin by focusing solely on reasons to avoid innovation.”
As the Commission moves closer to completing its role in implementing the Gambling Act Review, Miller said the regulator hopes to dedicate more resources toward encouraging responsible innovation. Given the evolving landscape and the anticipated growth of the illegal market, he stressed that innovation could play a key role in protecting consumers.
“Innovation can and should be one of our core consumer protection tools when addressing the illegal market,” he added.
With much of the Gambling Act Review reforms already in progress, Miller also called for a period of regulatory stability. He suggested that the industry would benefit from time to evaluate the effects of recent changes instead of remaining on what he described as a continuous “regulatory treadmill.”
Reiterating remarks made last year at Peers for Gambling Reform, Miller warned that constant reform without pause could waste effort without delivering meaningful progress. The Commission, he said, does not want to expend significant energy without achieving real improvements.
Illegal market enforcement backed by fresh funding
Tim Miller also underlined the regulator’s increased attention on combating the illegal gambling sector. In this regard, he welcomed an additional £26 million in government funding to strengthen enforcement efforts.
At the same time, he stressed that addressing unlicensed operators cannot be achieved by the regulator alone. Effective action, he said, will require collaboration with technology companies, payment service providers and affiliate partners.
“Since my speech at ICE, I have met with Meta, and they have pledged to work more closely with the commission in this area, particularly concerning ‘not on GamStop’ websites,” Miller stated. “I intend to ensure they follow through on that commitment.”
Commission continues search for new CEO
Tim Miller also took the opportunity to comment on the forthcoming departure of Andrew Rhodes as chief executive of the Commission. Earlier in February, the regulator confirmed that Rhodes will step down from his role on 30 April.
Deputy Chief Executive Sarah Gardner will assume the position of acting CEO, continuing Rhodes’ responsibilities while the Commission begins the recruitment process for a permanent chief executive.
“I would like to formally thank Andrew for his outstanding leadership over nearly five years at the Commission,” Miller said. “On a personal note, he has been an exceptional leader to work with and truly one of the finest individuals I’ve encountered.
“I know many of us at the Commission will greatly miss him when he leaves.”
