The Currency analytics
By James Thorp
The UK's Financial Conduct Authority dropped a bombshell Tuesday.
Credit cards can't buy crypto anymore under new proposed rules. The FCA rolled out sweeping changes on January 26, 2026, targeting how Brits access digital coins.
Borrowed money won't fund crypto speculation if regulators get their way. The watchdog wants to shield consumers from massive losses when Bitcoin and other tokens crash.
Sarah Pritchard runs markets at the FCA. She warned about crypto dangers Tuesday. "We must ensure consumers are not put at risk of significant financial loss due to volatile…
Banks, crypto exchanges and regular people can weigh in before final rules drop. The FCA hasn't picked an enforcement date yet.
Credit cards aren't the only target in this regulatory assault. Crypto ads face stricter rules too, with clearer warnings about losses and limits on targeting newbie investors.
Crypto exchanges operating in the UK face licensing requirements and operational standards under the proposed framework.
Britain has been tightening crypto rules for months now. Anti-money laundering measures came first. But consumer protection marks a major shift in approach.
The crypto crowd isn't happy about these changes.
Some industry leaders claim over-regulation will kill innovation and push businesses offshore. Others welcome clear rules that could legitimize the sector.
Major exchanges haven't commented yet on the proposed rules. Their responses matter since they'll need to comply with new operational standards.
Global regulators are watching Britain's moves closely. The United States and Australia are crafting similar consumer protection measures.
The consultation period will determine everything. Industry feedback could soften the rules or make them even tougher.
British Bankers' Association pushed back hard on January 27. They worry credit card bans hurt financial inclusion for people who need credit flexibility.
CryptoUK prepares its response for the consultation deadline.