Barclays Bans Cryptocurrency Transactions via Bank Cards
Barclays, a leading UK financial institution, will prohibit all cryptocurrency transactions through its bank cards starting June 27, 2025. The bank cites concerns over extreme price volatility and the lack of investor protections as primary reasons for the ban.
The decision reflects growing institutional apprehension toward crypto assets. Barclays emphasizes that customers face significant risks, including potential debt from sudden price drops, without recourse to standard financial safeguards like the UK Financial Ombudsman Service.
This MOVE underscores the regulatory gray area surrounding digital assets. While Barclays will block direct crypto purchases, the bank maintains indirect exposure through other financial services tied to the crypto ecosystem.
