UK regulators propose allowing cryptocurrencies 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 cryptocurrencies for betting payments. This move is in line with the UK's efforts to develop a regulatory framework for digital assets.

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

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