Barclays says its forthcoming prohibition on using Barclaycard credit cards for any cryptocurrency purchase is intended to protect customers from unmanageable debt that sudden crypto-price crashes could trigger.

Quotes that support claims

The UK banking giant cited concerns over market volatility and consumer debt risks, arguing that sudden price drops could leave cardholders unable to repay borrowed funds.

Barclays will block cryptocurrency acquisitions made with credit cards starting June 27, warning that wild price swings can push cardholders into unmanageable debt and citing the lack of consumer protection as key factors.