In December, the government presented the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 to Parliament. If approved, this will place cryptoassets under the Financial Conduct Authority, the UK's financial regulator. The new cryptoasset rules are expected to take effect on October 25, 2027.
The executive director, Tim Miller, said the regulator will look into using cryptoassets as a payment option in licensed gambling. Speaking at the Betting and Gaming Council AGM, he mentioned that the they will analyze how crypto could fit into the UK's regulations.
Miller also connected this effort to the fight against illegal gambling, noting that research from the Commission shows “crypto” is one of the two most common search terms leading British consumers to unlicensed gambling sites.
“There will be significant challenges and risks in addressing this topic, but I want us to explore what is possible rather than begin by looking for reasons not to innovate,” Miller said. “Innovation should be and can be a key tool for protecting consumers in the illegal market.”
With many reviews already underway, Miller called for a time of regulatory stability. He said the industry would benefit from having space to assess the effects of recent reforms, instead of being on what he described as a “regulatory treadmill.”
Miller also emphasized the regulator's increased focus on illegal gambling. He welcomed GBP 26 million in extra government funding to support enforcement efforts.
Editor-in-chief and creator Cole Smith of casinocurrencies.com, has extensive experience with casino payment systems, The site was created to provide an honest and trustworthy resource for online gambling players.