The United Kingdom’s financial regulator is exploring the prohibition of using credit cards to buy cryptocurrencies such as Bitcoin, as part of a broader offensive in high -risk crypto investment.
In a discussion document published on Friday, the Financial Behavior Authority (FCA) warned that loans to invest in cryptoenssets could have an unsustainable debt. Proposal restriction would prevent companies from accepting credit cards or credit lines of electronic money suppliers for cryptographic purchases.
“We are exploring whether it would be appropriate to restrict acceptance credit companies as an average for consumers to buy cryptoasets,” said the regulator. “We are considering a variety of restrictions, including the restriction of the use of credit cards to buy directly cryptoasets.”
The aim of limiting the risky financial behavior, partly among retail investors, who the FCA believes that it can be vulnerable to the volatile nature of cryptographic markets. The document also proposes to block consumer access to cryptographic lenders, who sacrifice high yields but entail complex risks and limited protections.
David Geale, executive director of Payments and Digital Finance of FCAS, told The Financial Times: “Cryptography is a potential growth area for the United Kingdom, but it must be done well. To do so, we have to provide a level of appropriation protection.”
The regulator is also weighing whether to demand cryptographic companies that serve customers based in the United Kingdom, a movement that would bring more supervision to a sector currently dominated by operators on the high seas.
The proposals reflect a growing concern for financial damage related to cryptography. In 2023, the FCA adjusted the rules on marketing and cryptography promotions, already beginning of this year, launched a campaign warning against “Get Rich Quick” schemes linked to digital assets.
Although the United Kingdom government has declared its ambition to position Great Britain as a global center for cryptographic innovation, the latest FCA measures indicate a firm position on consumer protection in expansion without control.
The consultation is expected to continue in the summer, with the final rules introduced enhanced in early 2026.
Jamie Young
Jamie is a senior reporter of Business Matters, who brings more than a decade of experience in commercial reports of the United Kingdom. Jamie has a business administration title and participates regularly in conferences and industry workshops. When he does not inform about the last business development, Jamie is passionate about the mentoring of promising journalists and businessmen to inspire the next generation of business leaders.
