Chase Bank announces an outright ban on crypto payments in the U.K.
Chase Bank will start to block crypto payments in U.K. from October 16th. The retail bank says the ban is related to an increase in crypto frauds. Chase Bank has an active user base of well over 1.0 million in the U.K. Chase Bank – a subsidiary of JPMorgan has decided to ban crypto -related transactions in the United Kingdom. Why is Chase Bank banning crypto transactions? Payments via outgoing bank transfers or the debit card suspected to be linked to crypto currencies in any way will be blocked from October 16 th , the bank told its customers in an email today. Chase said it was moving to impose an outright ban because crypto scams are on the rise in the U.K. We’ve seen an increase in the number of crypto scams targeting U.K. consumers. So, we’ve taken the decision to prevent the purchase of crypto assets. The retail bank has an active user base of well over 1.0 million in the United Kingdom. U.K. consumers have lost millions to cry...