JPMorgan Chase Bank 🏦 Bans Crypto Payments 🚫 for UK Customers 🇬🇧
Banking giant JPMorgan Chase (aka Chase) will ban cryptocurrency-related payments 💸 for customers in the UK as of October 16, according to an email sent to customers.
“If we believe you are making a payment related to crypto assets, we will decline it,” the email said, adding that customers can use a bank or other provider. another level to invest in cryptocurrency.
However, finding a crypto-friendly bank in the country may not be easy, as credit unions in the UK have taken steps to block or limit customers' access to electronic money.
The reason Chase banned cryptocurrency payments is because “fraudsters are increasingly using crypto assets to steal large amounts of money from people.” This is also an excuse used by other UK banks to impose similar restrictions.
Britain's local financial watchdog the Financial Conduct Authority (FCA) recently said it has facilitated discussions between banks and crypto firms as the banks have shown shows reluctance to provide services to that industry. 🏦💬💻🇬🇧🚫💸#binance #bank 
