Barclays Bank is set to implement a ban on customer purchases of Bitcoin and other cryptocurrencies using their debit cards, effective June 27, 2025. The bank cited concerns over accumulating consumer debt as the primary driver for this policy change.
This restrictive move creates a stark contrast with the United Kingdom’s broader regulatory approach to digital assets. The UK government and its Financial Conduct Authority (FCA) have actively worked to foster crypto industry growth while implementing balanced consumer protection measures.
Barclays announced the impending ban with minimal public explanation, causing confusion among its customer base and industry observers about the specific rationale and scope of the new policy.
The bank’s decision to restrict access also diverges noticeably from global banking trends. Major financial institutions, particularly in the United States, are increasingly expanding cryptocurrency services, including direct access to decentralized exchanges (DEXs).
This places Barclays at odds with the UK’s crypto-friendly regulatory direction led by the FCA, which aims to position the country as a hub for digital asset innovation.