A help-page notice published by Barclays states that a sharp fall in cryptocurrency prices could leave Barclaycard users unable to repay borrowed funds and reiterates that crypto transactions receive no protection from the Financial Ombudsman Service or the Financial Services Compensation Scheme.

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There’s also no protection for crypto assets if something goes wrong with a purchase, as they’re not covered by the Financial Ombudsman Service and Financial Services Compensation Scheme.

We’re doing this because a fall in the price of crypto assets could lead to customers finding themselves in debt they can’t afford to repay.