JPMorgan's Chase Bank Bans Crypto Transactions in UK Due to Fraud Concerns

JPMorgan's British retail bank Chase will ban crypto transactions starting Oct. 16 due to an increase in fraud and scams.
Chase has become the latest UK lender to restrict customers' access to crypto amid long-running concerns over its use in online scams.
In March, NatWest imposed new limits on the daily and monthly amounts customers can send to crypto exchanges to protect them from scams.
Santander said last year it would block UK customers from sending real-time payments to crypto exchanges to protect them from scams.
JPMorgan has attracted over 1.6 million customers to Chase since launching in the UK two years ago and plans to roll the bank out to other markets.

reuters.com

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Posted 9/26/2023, 1:30:00 PM