INSUBCONTINENT EXCLUSIVE:
United Kingdom-based bank Barclays will begin blocking crypto transactions made through its Barclaycard credit cards starting Friday, citing
prices and the lack of regulatory guardrails for investors
on the decision.Barclays has allowed crypto transactions via its credit cards since at least 2018, enabling customers to purchase digital
assets on cryptocurrency exchanges
debate in the UK on whether more restrictions are needed to prevent residents from purchasing crypto with credit
This suggestion seems to equate crypto purchases with gambling; instead, consumers should be empowered to make informed choices within
In some cases, banks may block individuals from using cash to buy digital assets, making credit cards a fallback option
However, purchasing crypto with a credit card can carry added costs
According to Bankrate, some issuers treat these transactions as cash advances, which may trigger higher fees and interest rates.Magazine:
