JPMorgan’s subsidiary Chase UK to restrict crypto transactions


Chase Bank, a digital bank owned by the investment bank JPMorgan, will restrict all cryptocurrency-related transactions for its customers in the United Kingdom.

Starting from Oct. 16, customers of Chase Bank in the U.K. will no longer be able to make crypto transactions using their debit cards or through outgoing bank transfer, a spokesperson for the firm told Cointelegraph on Sept. 26.

“Customers will receive a declined transaction notification if they do attempt to make a crypto-related transaction,” Chase Bank said in a statement.

According to the bank’s representative, Chase has decided to enforce new cryptocurrency restrictions due to an “increase in fraud and scams related to crypto assets.”

This is a developing story, and further information will be added as it becomes available.

Articles You May Like

Top Wall Street analysts expect these dividend stocks to enhance total returns
Moody’s upgrades Ohio to Aaa
Here’s how activist Elliott could build shareholder value amicably at Phillips 66
Bitcoin ETFs, user experience will drive adoption — eToro CEO
Trust the best strategy in crypto bear market — Trust Wallet CEO