Barclays' ban on credit card crypto purchases underscores growing concerns over consumer debt and market volatility, amid a shifting regulatory landscape in the UK.
Effective June 27, 2025, Barclays will prohibit credit card purchases of cryptocurrencies due to risks of insolvency and consumer protection issues. The bank's notice warns customers of potential unmanageable debts from crypto price drops, which lack regulatory safeguards. This decision reflects a trend among UK banks to restrict crypto access, contrasting with Barclays' recent investment in BlackRock's Bitcoin ETF, indicating a complex relationship with digital assets.