Crypto payments get UKGC review as regulator weighs AML

UKGC will explore allowing crypto payments under existing licences

The UK Gambling Commission (UKGC) is weighing whether to allow cryptoassets as a payment method for online betting within the regulated market. As reported by iGaming Business, Executive Director Tim Miller said the regulator will explore the use of cryptoassets as payment in licensed gambling.

The assessment focuses on feasibility, risk controls and how digital-asset payments could interact with existing licensing requirements. Discussions are exploratory, and any permission would depend on safeguards addressing financial crime and consumer risk.

Why it matters: safety, traceability, and market competitiveness

The policy discussion centers on two objectives: strengthening safety and traceability while keeping the regulated market competitive. Allowing compliant on- and off-ramps could reduce the incentive for consumers to migrate to unlicensed offshore sites that accept crypto and evade UK protections.

According to EEGaming, Miller confirmed the Commission is exploring a framework to permit UK-licensed operators to accept crypto as a payment option under the current licensing system, with consumer demand a key driver. The UKGC’s Industry Forum is working on design principles intended to capture crypto’s traceability advantages while mitigating volatility and financial-crime risk.

“Regulated payment-option pathways are long overdue and likely to deliver better consumer protections than the status quo,” said Chris Elliot, Partner at Wiggin LLP.

In parallel, HM Treasury has rejected calls to regulate retail trading in unbacked crypto like gambling, citing conflicts with international standards and the need to avoid blurring financial and gambling regimes. That separation suggests any gambling-facing crypto rules would need to dovetail with financial regulation rather than replace it.

Immediate impact for operators, players, and compliance programs

There is no immediate change for operators or players; crypto is not yet an approved payment method on UK-licensed sites. If a framework advances, operators would need to retool payment flows, risk models, and reporting to capture wallet screening, on-chain analytics, and fiat–crypto reconciliation.

For players, any future permission would sit inside today’s consumer protections, self-exclusion via GamStop, affordability checks, and markers of harm, rather than outside them. This alignment could reduce leakage to offshore sites by offering a compliant crypto option in the regulated market.

Compliance programs would likely combine standard KYC and source-of-funds checks with on-chain tracing to evidence provenance, plus controls for price volatility and sanctions screening. Coordination with evolving FCA crypto requirements and information-sharing obligations would be expected before go-live.

At the time of this writing, Bitcoin (BTC) was around $65,843, with a 14-day RSI near 42.3 and elevated recent volatility, underscoring the need for robust risk limits when handling digital-asset payments.

How AML and consumer protections would apply to crypto

Anti-money-laundering and counter-terrorist-financing controls would remain the backbone of any crypto payment permission. As reported by InterGame, the regulator’s concerns center on traceability, AML, source of funds, and terrorism financing, implying enhanced verification for crypto-related transactions.

In practice, regulated operators would be expected to maintain full KYC at account opening, evidence lawful sources of funds, and link deposits to named customers through wallet screening and blockchain analytics. Where customers use third-party processors or exchanges, off-chain records could be matched to on-chain flows to close the audit trail.

Travel Rule-style information sharing between obliged entities, transaction monitoring calibrated for crypto typologies, and sanctions/PEP screening of counterparties would likely be required. Affordability assessments and deposit limits should apply irrespective of payment rail, with dynamic monitoring to flag rapid value swings from crypto price moves.

If implemented under existing licences, operators would reconcile crypto payments with responsible-gambling tools such as time-outs, self-exclusion, and marketing opt-outs exactly as they do for fiat. This approach aims to preserve UK standards while channeling demand away from unregulated venues.