TechFlow reported, according to CoinDesk, that UK banking giant Chase Bank will ban payments related to cryptocurrencies for UK customers starting October 16, as stated in an email sent to customers.
The email said: "If we believe you are making a payment related to crypto assets, we will decline it," adding that customers are free to use a different bank or provider to invest in cryptocurrencies.
Chase Bank said it is banning crypto-related payments due to "fraudsters increasingly using crypto assets to steal large sums of money from people"—a reason also cited by other UK banks that have previously implemented similar restrictions.
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