The UK Gambling Commission is evaluating the potential for consumers to fund bets with crypto assets. Speaking at the Betting and Gaming Council AGM, Executive Director Tim Miller said the regulator wants to understand how these assets could work safely in regulated gambling.
The exploration comes in light of the forthcoming Financial Conduct Authority oversight under new crypto asset regulations. The regulator prepares to complete its regulatory framework for digital assets later this year, with enforcement set to begin in late 2027.
As a tentative first step, Miller has asked the Industry Forum to consider how a regulated pathway could be developed, balancing innovation with strong consumer protections and compliance with licensing objectives.
Betting companies could seek authorization under that regime, potentially enabling direct crypto transactions on regulated platforms. Miller noted that steering bettors toward licensed venues could curb activity on illicit sites.
Source: https://cryptobriefing.com/uk-crypto-gambling-market/
