UK Regulator Proposes Allowing Cryptocurrency for Gambling Payments

BlockBeats News, February 27, according to Bloomberg, the UK Gambling Commission is planning to assess the feasibility of allowing gamblers to use cryptocurrency for betting payments, in line with the UK's advancement of a digital asset regulatory framework.

The report stated that the Financial Conduct Authority is expected to finalize regulatory rules related to crypto assets this year and plans to formally take effect by the end of 2027. UK gambling companies in the future may be able to apply for a crypto business license under the new regulatory system.

Tim Miller, Executive Director of Research and Policy Enforcement at the UK Gambling Commission, said that the related exploration will be part of a broader digital asset regulatory process.