JPMorgan's UK Bank Chase Announces Ban on Crypto Transactions

JPMorgan's (JPM.N) British retail bank Chase announced on Tuesday that it will prohibit clients from making crypto transactions from Oct. 16 owing to a surge in fraud and scams.

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Chase is the latest lender in the UK to limit clients' access to cryptocurrency, citing long-standing worries about its use in criminal-run online schemes.

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JPMorgan has gained over 1.6 million clients for its Chase retail bank since introducing the mobile app-based service in the United Kingdom two years ago

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The company aims to expand the consumer bank into additional foreign countries over time.

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According to the bank, Chase notified clients of the impending policy change via email on Tuesday morning. Coindesk, a cryptocurrency media source.

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JPMorgan's UK Bank Chase Announces Ban on Crypto Transactions

JPMorgan's (JPM.N) British retail bank Chase announced on Tuesday that it will prohibit clients from making crypto transactions from Oct. 16 owing to a surge in fraud and scams.

Chase is the latest lender in the UK to limit clients' access to cryptocurrency, citing long-standing worries about its use in criminal-run online schemes.

JPMorgan has gained over 1.6 million clients for its Chase retail bank since introducing the mobile app-based service in the United Kingdom two years ago

The company aims to expand the consumer bank into additional foreign countries over time.

According to the bank, Chase notified clients of the impending policy change via email on Tuesday morning. Coindesk, a cryptocurrency media source.

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