Surprising Cryptocurrency Move from the UK! Bitcoin (BTC) and Altcoin Payments are Being Evaluated in a Completely Different Field!
According to Bloomberg, the UK gambling regulator is considering allowing cryptocurrency payments.
Accordingly, the UK Gambling Commission (UKGC) is considering accepting cryptocurrencies as a payment method for legal gambling services.
This step is seen as an effort to bring the rapidly growing number of cryptocurrency users under the regulatory framework, rather than maintaining the current ban.
The stated aim is to allow crypto payments through authorized exchanges, thereby helping to track the flow of illicit gambling funds.
Tim Miller, research and policy director at the UK Gambling Commission, said at an event in London: “We are exploring ways to enable cryptocurrencies to be used as a consumer payment option. To mitigate the risks posed by illegal gambling sites, we need to examine allowing cryptocurrency payments within a regulated market.”
Miller stated that this research would be part of a broader ongoing regulatory process for digital assets.
However, the UK Financial Conduct Authority (FCA) is also preparing to finalize its cryptocurrency regulations this year and is working to have the rules officially come into effect by the end of 2027.
*This is not investment advice.
Continue Reading: Surprising Cryptocurrency Move from the UK! Bitcoin (BTC) and Altcoin Payments are Being Evaluated in a Completely Different Field!
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