Barclays said it will block cryptocurrency transactions on Barclaycard as of June 27 because of "certain risks" when purchasing crypto.
Barclays bank has announced it will block customers from using Barclaycard credit cards to buy crypto starting June 27 The move was quietly confirmed in a newly updated FAQ section on the bank’s official website. According to Barclays, the decision stems from concerns over consumer protection and repayment risks. The bank warned that crypto price […]
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Barclays cited the lack of consumer protection and market volatility that could push cardholders into unmanageable debt as key concerns.
The UK FCA previously said that almost 90% of annual crypto license applications had failed as of September.