Barclays will block crypto purchases made with debit cards starting June 27, 2025. The bank announced the change on its website. It said the move aims to reduce the risk of customers falling into debt from crypto volatility.
“It’s not possible to make cryptocurrency transactions using a Barclaycard. From 27 June 2025, we’ll block crypto transactions made with a Barclaycard because we recognize there are certain risks with purchasing cryptocurrencies. A fall in the price of cryptoassets could lead to customers finding themselves in debt they can’t afford to repay,”
the statement said.
Although the message mentioned “Barclaycard,” most reports and user complaints involve debit cards. Barclays has not confirmed whether this rule includes all card types.
Several customers said they learned of the rule through failed transactions or social media. Barclays has not issued a press release, FAQ, or any further detail on the change.
Barclays Crypto Ban Follows Previous Bitcoin ETF Interest
The decision comes after Barclays had previously supported crypto-related products. The bank invested in Bitcoin ETFs and explored blockchain applications in recent years. These moves positioned Barclays as a participant in the UK’s digital asset space.
Now, the bank’s stance has changed. The Barclays crypto ban targets card-based payments, cutting off a common method for retail users to access exchanges. The statement did not mention if the ban would apply to bank transfers.
Despite previous involvement in blockchain and digital assets, Barclays has not explained why the shift happened now. The bank only referred to “risks” of price falls and debt issues.
Customers are still waiting for more details. As of June 25, Barclays has not responded to public queries.
UK Crypto Policy Remains Pro-Growth Amid Barclays Restriction
The Barclays crypto ban stands in contrast with the UK government’s broader policy. Over the past year, the UK has promoted crypto development while introducing new consumer safeguards.
The Financial Conduct Authority (FCA) updated its crypto rules in early 2025. These guidelines aim to protect users but also support access to digital assets. Economic Secretary Bim Afolami has said the UK wants to become a global crypto hub.
Barclays has referred users to the FCA website to learn about crypto risks. However, the FCA continues to outline a more supportive stance toward crypto investments. The government is also exploring central bank digital currencies and tokenized finance.
The bank has not said whether it consulted with regulators before announcing the crypto purchases UK ban.
Other Banks Expand Crypto Access as Barclays Adds Restrictions
The Barclays crypto ban contrasts with recent moves by other financial institutions. On June 24, one of the largest credit card firms enabled direct access to decentralized exchanges (DEXs). That move allows users to purchase crypto without relying on centralized intermediaries.
Meanwhile, some UK banks are adding digital asset features following updates to FCA crypto rules. Several US banks have also expanded crypto-related services since early 2025. These include wallet integrations, crypto trading platforms, and secure custody options.
Barclays has not confirmed whether its crypto restriction will expand beyond debit cards. The bank also did not say whether it will change its approach to crypto in business banking or corporate finance.
No new policy documents have been posted on Barclays’ official communication channels.