UK Gambling Commission to Officially Permit Payments with Virtual Assets

According to the Commission’s Executive Director, Tim Miller, the Industry Forum has been tasked with exploring how digital assets could be utilised to fund gaming. At the same time, he stressed that compliance with licensing requirements remains a parallel priority.

The project is still in its initial analysis phase. No deadlines or specific timelines for decisions or regulatory updates have been announced yet.

Supervision of Decentralised Transactions

On December 15th, 2025, the government introduced the final version of the Financial Services and Markets Act 2000 (Cryptoassets) Regulations. If approved, the law will bring decentralised transactions under the supervision of the Financial Conduct Authority (FCA).

Key points of the initiative:

1. Start date. The new system is scheduled to take effect on October 25th, 2027.
2. Licensing. Brands planning to operate with digital tokens must secure certification before the regime is implemented.
3. Drivers. Regulatory development and rising customer interest in Web3 currencies are prompting the UKGC to consider their use in legal gambling.

The Commission’s members recognise that virtual assets involve certain risks and technical hurdles. Mr Miller stressed that the debate should concentrate on identifying potential solutions rather than emphasising obstacles, noting that innovation can be harnessed to strengthen consumer protection, especially in combating grey markets.

Digital Tokens and Shadow Operators’ Growth

According to the UKGC’s latest research, the term “crypto” has become extremely popular in search queries, often directing British players towards unauthorised online gambling platforms. The Commission’s representatives believe that implementing innovative tools can help decrease the attractiveness of unregulated portals and improve user safety.

Additionally, the authority has secured an extra £26 million in government funding to intensify its crackdown on illegal brands.

Mr Miller stressed that tackling the shadow segment effectively requires close collaboration between:

• affiliate networks;
• payment suppliers;
• technology platforms;
• regulatory authorities.

The specialist also mentioned that the UKGC’s members have already held gatherings with global corporations, such as Meta, aimed at strengthening cooperation to ban platforms that function outside GamStop’s user self-exclusion system.

Mr Miller further underlined that once the review of the gambling legislation is complete, it is crucial to avoid continuous regulatory updates. Endless reforms, as he warned, could drain industry resources without delivering meaningful progress — precisely the scenario the UKGC is determined to prevent.