“Barclays SAID IT WILL BLOCK Cryptocurrency Transactions on Barclaycard as of June 27 Because of “Certain Risks” WHEN PURCHASHASING CRYPTO.”, – WRITE: www.coindesk.com
The London-Basted Company Block Cryptocurrency Transactions on Its Barclaycard-Branded Payment Cards Starting June 27, IT SAID ON A WEBSITE PAGE PUBLISHED WEDNESDAY. The Page CITED “CERTAIN RISKS” WHEN PURCHASING CRYPTO.
“We’re Doing this Because a Fall in the Price of Crypto Assets Could Lead to Customers Finding Themselves in Debt they Can ‘Afford to Repay,” The Page Reads. “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 SCHAL SCHAL SERVICESS
The FSCS Reimburses Up to 85,000 Pounds ($ 116,000) to Customers Who Lose Money If An Institution Covered by The Program Fails.
While Banks Preventing Customers Using Their Credit Cards to Purchase Crypto Is Nothing New, It Is Unclear Whoar Wy Barclays Has Put this Restriction In Place Now. Rival Institutions Nationwide and HSBC DID SIMETING SIMILAR BACK IN MARCH 2023 at A Time Wen Wounds from the Collapse of Multiple Crypto Firsh in 2022 Were Still Fresh.
The Bank Did Not Provide Further Comment on this Matter Whoteacted by Coindesk.
CorRECT (June 25, 16:37 UTC): CorRECT ACRONYM for FINANCAL SERVICES Company Scheme in Fourth Paragraph.
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