Barclays will ban cryptocurrency purchases from credit cards starting June 27

British bank Barclays from June 27, 2025 will prohibit the use of its credit cards for the purchase of cryptocurrencies. This is reported on the official website of the financial institution.

The ban applies to all transactions related to digital assets, including purchases on centralized exchanges and through third-party platforms. Barclays explained this decision by the desire to protect clients from possible financial losses caused by the high volatility of the crypto market.

According to the bank, a significant fall in the price of digital assets could lead to situations where cardholders are unable to repay their loan debts. In addition, the statement emphasizes that cryptocurrency investments are not covered by the UK Financial Ombudsman Service and the Financial Services Compensation Scheme (FSCS).

Customers have been advised to read the Financial Conduct Authority’s (FCA) warnings and materials to take an informed approach to investing in digital assets.

While Barclays is stepping up its precautions, major international banks continue to increase their engagement with the crypto market. For example, JPMorgan CEO Jamie Dimon recently announced that the bank is preparing to give customers access to the first cryptocurrency, bitcoin.

In the US, the Office of the Comptroller of the Currency (OCC) confirmed in May that banks can use external providers for custodial services as well as generate tax returns on digital assets.

Meanwhile, the UK continues to develop a regulatory framework for the crypto industry: in April, the government presented a preliminary text of new rules for regulating digital assets.