Chase Bank, the UK’s second largest bank, announced that it will ban cryptocurrency-related payments, citing increasing cases of fraud.
Banking giant Chase Bank is linked to cryptocurrency to ban decided. by bank via email In the statement made, transactions made through cryptocurrencies Fraud activities have increased significantly While stating that, as a precaution, transfers to cryptocurrency exchanges 16 OctoberIt was emphasized that it will be banned as of .
According to the statement, the bank’s UK-based customersvia debit card or via money transfer will not be able to send money to cryptocurrency exchanges or make direct purchases. The bank, without explanation, deducted the payment of a customer whom it noticed had made a payment related to cryptocurrencies. will be rejected.
In the statement made by the Chase Bank spokesperson, this decision was aimed at customer safety highlighted:
We are committed to helping keep our customers’ money safe and secure. 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 with a Chase debit card or by transferring funds from a Chase account to a crypto site.
Britain’s third largest bank National Westminster Bank (NatWest) last march Increasing fraudulent activities through cryptocurrencies such transactions, citing justification will prevent had announced.
UK Financial Conduct Authority (FCA) on October 8 It will put into effect new rules that impose significant restrictions on cryptocurrencies.