JP Morgan’s Chase UK bank is bringing in a ban on cryptocurrency purchases due to an “increase in fraud and scams related to crypto assets”.
The ban will come into effect from 16 October and will apply to all debit card and outgoing bank transfers. A spokesperson for Chase UK told Investment Week the bank was "committed to helping keep our customers' money safe and secure". US court rules SEC improperly rejected bitcoin spot ETF They said: "We have seen an increase in the number of crypto scams targeting UK consumers, so we have taken the decision to prevent the purchase of crypto assets on a Chase debit card or by transferring money to a crypto site from a Chase account." Several other UK banks have placed limits on...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
