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Barclays Bank, one of the largest and most established financial institutions in the UK, notified that it will block all the transactions related to the cryptocurrency made using its banking cards, including Barclaycard credit cards, since June 27, 2025.
The decision comes during growing financial risks, which represents the highly volatile nature of digital currencies.
The bank quotes consumer protection lack
In a statement published on his website, Barclays explains the justification of the move. “From June 27, 2025, we will block crypto transmissions with Barclaycard because we realize that with the purchase of cryptocurrencies for cryptocurrencies,” the bank said.
“A drop in price of crypto assets could lead to customers in a debt that they cannot afford to repay.”
The bank also points to the lack of regulatory protection associated with the purchase of crypto. Since digital currencies do not apply to the Financial Ombudsman Service or the scheme of financial service compensation, customers are limited if something goes wrong with the transaction.
This absence of guarantees combined with prices volatility is a huge risk for consumers who can use a loan to invest or buy a crypto assets.
Financial institutions distance themselves from crypt
Barclays’s decision is in accordance with a cautious attitude increasingly accepted by traditional financial institutions and regulatory bodies around the world. While receiving cryptocurrencies has increased, they are also concerned about fraud, price handling and consumer damage.
In the UK, Financial Behavior Office (FCA) He has repeatedly warned consumers of investing in unregulated markets.
Barclays has directed customers to the FCA website for more information and encouraged them to look for a “crypto foundations” to understand related risks.
In recent years, this step of Barclays has been governed by similar steps taken by other British banks because it seeks to limit the exposure of consumer with speculative digital assets. It also signals a wider trend of traditional financial institutions that attract clearer boundaries around the use of credit and banking services for cryptocurrency activities.
While some crypt supporters can see such restrictions as cumbersome, Barclays claim that the decision is in the best interest of the financial well -being of its customers.
UK wants banks to have a smaller exposure to the crypt
At the beginning of this month, the Bank of England (BOE) said is considering a proposal This would limit the exhibition of Britain Bank Krypto by 2026.
CEO Central Bank, David Bailey at Risk Live Europe in London on Wednesday, noted that the upcoming UK rules would be more at a “restrictive end”. He stated that banks would be encouraged to maintain a low exposure to the crypto.
“There are also examples where it might be preferable to start more towards the restrictive end of the spectrum,” he said. “An example is the cautious treatment of bank expositions -the -tapping and specifically those who have functions associated with increased price volatility and where investors can lose their entire investment.”
Contribution Barclays to block a crypto transaction on British bank cards over the debt concern He appeared for the first time Cryptonews.
