Starting Friday, users won’t be able to buy crypto with a Barclaycard credit card.
The UK bank says it’s blocking these transactions to protect users from crypto’s wild price swings—and the risk of ending up in debt they can’t pay off. Plus, if something goes wrong with a crypto purchase, customers have no recourse since digital assets aren’t covered by UK financial protections.
Barclays has allowed crypto buys since at least 2018, but now it’s joining a growing list of banks tightening the rules. The move comes as UK regulators debate whether more restrictions are needed to stop people from trading crypto with borrowed money.
