UKGC Takes a Step Towards Regulated Crypto Payments

​

The Annual General meeting of the Betting and Gambling Council (BGC) took place on February 26 and suggested a substantial change to the regulatory guidelines regarding cryptocurrencies. No clear steps to introduce cryptocurrency payments, or any guarantees for them, were outlined. However, Tim Miller, the Executive Director of the Gambling Commission, said they made a “tentative first step” towards meeting the gambling community's demands.

Current State of Cryptocurrency Payments in UK Casinos

As of the end of February 2026, all UKGC-approved online casinos do not accept cryptocurrency as a payment method. There’s no regulatory document setting a direct ban on the usage of digital assets. Neither the Gambling Act 2005 nor its further amendments control crypto payments in online casinos. The Gambling Commission considers crypto assets a high-risk payment option due to the following reasons:

• Anonymity makes it difficult to identify the customer & source of funds for Anti-Money Laundering (AML) purposes.
• It has a very fluctuating nature compared to fiat currency values.

The rest of the licensing bodies, such as the Malta Gaming Authority (MGA) and the Curacao Gambling Board (CGB), allow gamblers to make payments with crypto assets; the UKGC sticks to its own approach.

Offshore regulators don’t provide the exceptional level of customer protection and fairness. In contrast, the Gambling Commission’s blueprint is to establish a framework for the highest customer protection. And transactions that can’t be traced fail to fall within it.

Upcoming FCA Crypto Regulation

The upcoming UK crypto guidelines are about to turn the digital assets landscape upside down. In 2025, the British government released updated Financial Services and Markets Act 2000 (Cryptoassets) regulations. According to this policy, cryptoassets firms will be authorised and regulated by the Financial Conduct Authority (FCA). It oversees banking, investment, and crediting services and ensures market integrity.

As these changes come into force in October 2027, the UK plans to drive more investments into market regulation and keep up with the global shift towards cryptocurrency. Hence, British punters may soon be able to use cryptocurrency payments in licensed casinos.

What It All Means for the UK iGaming Landscape

According to Tim Miller’s report, the upcoming regulations and growing customer demand prompted the UKGC think of ways to integrate cryptocurrency and make it available for payments. No clear pathways and deadlines were announced. But it’s a revolutionary move for the iGaming industry and the most significant shift since the Gambling Act 2005.

It’s also important to remember the regulator’s efforts towards cracking down on the black gambling market in the UK. The search stats reveal that cryptocurrencies are among the most important reasons for shifting British punters to the offshore gambling sites. If cryptos become accessible on UKGC-approved sites, there’s a high probability that people’s interest in the black market will decrease.