UK regulator plans to allow 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, a move that aligns with the UK's ongoing efforts to advance its digital asset regulatory framework.

The report states that the Financial Conduct Authority is expected to finalize regulations related to crypto assets this year, with plans for them to officially take effect by the end of 2027. In the future, UK gambling companies may be able to apply for crypto business licenses under the new regulatory system.

Tim Miller, Executive Director for Research and Policy at the UK Gambling Commission, stated that the relevant exploration will be incorporated into the broader process of digital asset regulation.