Barclays PLC said it will block customers from using Barclaycard credit cards for any cryptocurrency transactions from 27 June 2025, according to a notice on the lender’s website
Barclays PLC said it will block customers from using Barclaycard credit cards for any cryptocurrency transactions from 27 June 2025, according to a notice on the lender’s website. All attempted purchases of digital assets will be automatically declined once the restriction is in place.
The UK bank cited the extreme volatility of crypto prices, the risk that borrowers could accumulate unaffordable debt and the absence of statutory buyer protections as reasons for the ban. Crypto investments are not covered by the Financial Ombudsman Service or the Financial Services Compensation Scheme, the bank noted.
Barclays’ clampdown on retail card spending comes amid broader regulatory scrutiny of the $2 trillion digital-asset market. Market observers also point out that a Barclays unit disclosed holding about $131 million in BlackRock’s iShares Bitcoin exchange-traded fund earlier this year, underscoring the widening gap between institutional and retail access to the asset class.
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