Chase Bank to Ban crypto-Related Payments For UK Customers
According to the latest details that surfaced, Chase Bank is prohibiting crypto currency-related payments for its UK account holders starting October 16th, per an email to customers. The ban comes as UK banks face pressure to support crypto amidst regulatory hesitation. JUST IN: 🇬🇧 Chase Bank to ban crypto-related payments for UK customers. — Watcher.Guru (@WatcherGuru) September 26, 2023 Chase Bank to decline payments related to crypto According to the notice, Chase will decline any payment deemed crypto -linked, recommending customers use other providers to invest in digital assets. This follows similar actions by major UK banks to restrict transactions involving crypto currency. The email reads, “If we think you’re making a payment related to crypto assets, we’ll decline it.” The decision is thought to be due to the mixed messaging by regulators about how to balance innovation versus risk management. The UK Financial...