UK Banning Credit Cards For Crypto? The Full List Of Potential New Crypto Rules In Britain

Core Insights - Britain is advancing towards a comprehensive regulatory framework for cryptoassets, with the FCA proposing new consumer protection rules that may limit the use of credit cards for purchasing digital assets [1][2] FCA Proposals - The FCA has initiated a consultation to prepare firms for upcoming legislation, with a regulatory "gateway" anticipated to open in September 2026 [3] - The regulator aims to foster a trustworthy, sustainable, and competitive crypto market while acknowledging that risks will persist [4] Areas Under Consultation - The FCA is seeking feedback on various proposed rules, including: - Consumer Duty application to crypto asset firms [5] - Redress and dispute resolution mechanisms [5] - Conduct of Business Standards for fairness and transparency [5] - Restrictions on using borrowed money for crypto purchases [5] - Standards for staff training and competence [5] - Senior Managers and Certification Regime [5] - Regulatory reporting requirements for supervision [5] - Safeguarding of crypto assets [5] - Retail collateral treatment open until March 12, 2026 [5] Credit Card Regulations - The U.K. has not implemented a complete ban on using credit cards for crypto purchases, but the FCA is proposing stricter rules due to concerns over consumers borrowing to invest in volatile assets [6]