UK Regulator Considers Crypto Payments for Online Betting

The UK Gambling Regulator is exploring the possibility of allowing cryptocurrency payments for online betting, subject to strict conditions. This development comes as part of the regulator's efforts to modernize its regulations and stay competitive with other jurisdictions.

According to industry sources, the regulator has been discussing the potential benefits of permitting cryptocurrency transactions, including increased convenience and accessibility for customers.

However, any decision to allow cryptocurrency payments would also come with strict checks and safeguards in place. These measures are designed to prevent money laundering, terrorist financing, and other illicit activities associated with cryptocurrencies.