JP Morgan's UK bank to ban cryptocurrency transactions from next month

Ban begins 16 October

Eve Maddock-Jones
clock • 1 min read

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...

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