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

1 week ago 12

Kurt Robson

Mon, January 26, 2026 astatine 3:06 AM CST 4 min read

Key Takeaways

The FCA is consulting connected tighter rules astir utilizing borrowed wealth for crypto and different rules.
The watchdog is proposing to use halfway fiscal rules — including user extortion and behaviour standards.
Policy statement remains divided.

Britain is moving person to a broad regulatory authorities for cryptoassets, with the fiscal watchdog proposing caller user extortion rules that could further restrict the usage of recognition cards to bargain integer assets.

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The Financial Conduct Authority (FCA) said this week it had made “significant progress” connected its crypto regulatory roadmap and opened a caller consultation connected however accepted fiscal rules should use to cryptoasset firms.

The proposals travel arsenic policymakers proceed to question a equilibrium betwixt encouraging innovation and protecting consumers successful a marketplace the FCA says remains “largely unregulated” and precocious risk.

The FCA said the latest consultation is intended to hole firms for aboriginal legislation, with a regulatory “gateway” expected to unfastened successful September 2026.

“We person made important advancement successful delivering our crypto roadmap and are helping firms to conscionable our standards and get acceptable for erstwhile the gateway opens successful September 2026,” the regulator said successful a statement.

The watchdog said it aims to enactment “an open, sustainable and competitory crypto marketplace that radical tin trust”, portion emphasising that risks volition remain.

“Regulation can’t – and shouldn’t effort – to get escaped of each risk,” the FCA said. “We privation those funny successful investing successful crypto to recognize that risk.”

The FCA said it is seeking feedback connected a wide scope of projected rules, including:

Consumer Duty: How the Duty should use to crypto plus firms.
Redress and quality solution (DISP): Complaints handling and routes to user redress.
Conduct of Business Standards (COBS): Applying fairness and transparency rules to crypto plus activities.
Credit for crypto purchases: Restrictions connected utilizing borrowed money, including credit, to bargain crypto assets.
Training and competence: Standards for unit cognition and skills.
Senior Managers and Certification Regime (SM&CR).
Regulatory reporting (SUP 16): Data reporting requirements to enactment supervision and hazard monitoring.
Crypto plus safeguarding: Custody and extortion of lawsuit assets.
Retail collateral attraction unfastened until March 12, 2026.

Despite increasing scrutiny, the U.K. has not introduced a broad ineligible prohibition connected utilizing recognition cards to bargain crypto.

The FCA has projected tighter rules connected utilizing recognition for crypto purchases, citing concerns astir consumers borrowing to put successful volatile assets.