UK mulls allowing crypto payments for gambling services

The UK's Gambling Commission (UKGC) is reportedly considering allowing cryptocurrencies as a payment method for legal gambling services, according to a media outlet. The move is seen as an effort to bring the rapidly growing number of cryptocurrency users into the regulatory fold rather than maintaining the current ban. The intention is to allow crypto payments through authorized exchanges, which would help track the flow of illicit gambling funds. Industry insiders expect that the introduction of crypto payments would enable borderless transactions, thereby boosting the competitiveness of the UK's gambling sector.