UK FCA Proposes Ban on Credit Card Crypto Purchases

The UK Financial Conduct Authority (FCA) has proposed a ban on using credit cards to purchase cryptocurrencies starting May 2, 2025. This move aims to prevent unsustainable consumer debt associated with volatile cryptocurrency investments and promote market stability. The FCA seeks industry feedback before implementing the proposed change. Concerns about consumer access to crypto are being raised alongside discussions about potential exemptions for FCA-regulated stablecoins due to their distinct risk profiles compared to other cryptocurrencies.