NEW YORK (AP) — Chase UK, JP Morgan's British digital bank, says it will bar customers from making cryptocurrency transactions starting next month — citing an uptick in scams and fraud.
From Oct. 16 onward, Chase customers will no longer be able to make crypto transactions using their debit card or through an outgoing bank transfer, the bank said Tuesday.
“If we think you're making a payment related to crypto assets, we'll decline it,” Chase said in an email to customers.
The AP also reached out to Action Fraud for statement Tuesday following Chase's decision to stop customers from making crypto transactions.
to make it harder for customers to participate in crypto markets and therefore less likely to fall victim to scams,” they wrote.
Persons:
—, JP, Chase, ” Chase, Dan Wyatt, Christopher Whitehouse, JPMorgan Chase, Wyatt, Whitehouse, ”
Organizations:
— Chase, Associated Press, AP, JPMorgan, Chase, NatWest
Locations:
British, London