The UK Gambling Commission is taking a closer look at the potential benefits of accepting cryptocurrency payments from licensed betting operators.
According to the commission's chief executive, Tim Miller, this move could help tackle the issue of unlicensed online gambling sites that are drawing in consumers with cryptocurrencies.
Miller highlighted the growing demand for digital assets and the fact that searches for cryptocurrencies are often leading punters to illicit websites. He noted that if implemented correctly, allowing regulated companies to accept cryptocurrencies could keep consumers within the licensed system rather than driving them offshore.