At the 2025 CEO Briefing on 6 November, UKGC CEO Andrew Rhodes flagged several concerns, many of them crypto-related.
He described the growth of digital assets in gambling as “one of the biggest and most rapid changes” hitting the market, arriving far sooner than expected.
“What I thought was a five-year-away problem, perhaps a year or two ago, I think is now an 18-to-24-month challenge,” Rhodes said.
Let’s break down the main points from Andrew Rhodes’ speech and what they could mean for crypto gamblers.
Younger Players Are Leading the Crypto Push
The CEO pointed out that the young demographic is increasingly using cryptocurrencies.
But there are no clear rules yet for crypto gambling, and most UK-licensed sites don’t accept digital currencies.
This leaves the new generation of players with few legal options and could push them toward offshore or unlicensed sites.
To protect them, the Gambling Commission is considering licensing crypto.
Licensing Crypto Isn’t a Done Deal Yet
“That’s not me committing to saying we’re going to start licensing crypto,” he said. “This is going to have to be a government-level decision, because once you open that door, you cannot close it.”
Licensing won’t happen overnight, as regulators have to take their time to figure out rules for verifying funds, managing risk, and keeping anti-money laundering protections in place.
Steps Are Already Being Taken
As Andrews said at the CEO Briefing, the UK’s Financial Conduct Authority (FCA) is already looking into drafting legislation for cryptoassets.
The Bank of England also published a consultation on sterling-backed stablecoins on 10 November 2025.
Funding Issues Could Shape the Future
Another topic raised at the CEO Briefing was the UKGC’s funding. It comes solely from licence fees, not taxpayers, and its reserves are expected to run out by mid-2026.
Without extra funds, the UKGC could struggle to maintain current enforcement levels. This might create opportunities for illegal operators, increasing player risk.
To address this, discussions are ongoing about introducing new taxes for the gambling sector, including crypto gambling if it becomes regulated.
Author’s Note: Licensing crypto could help generate more revenue, which might ease the funding problem.
The UKGC Is Cracking Down on Illegal Gambling
Even with funding challenges, the UKGC hasn’t eased up on illegal gambling. In the past year, it has:
- Issued 480 cease-and-desists
- Reported 188,297 URLs, with 104,192 removed
- Referred 659 sites for delisting
- Disrupted 504 websites through takedowns or geo-blocking
Andrew Rhodes stressed protecting vulnerable players, especially children. He also warned that bad actors will no longer get warnings before being suspended.
How Does All This Affect Crypto Gamblers?
As the UK moves to address crypto gambling, we think that other regions are likely to take notice and start thinking about drafting their own rules.
And while there are already numerous crypto casinos operating with valid licences, the next few years will likely bring even more licensed and reputable sites into the space.
