News - Chase UK: Crypto payments no longer accepted

By Sam Fröling

Chase UK: Crypto payments no longer accepted

Crypto acceptance
Chase UK:, Crypto payments no longer accepted

As of Oct. 16 this year, Chase UK is blocking payments related to cryptocurrencies.

Chase UK the British arm of JPMorgan, will no longer allow crypto-related transactions. Coindesk quotes from a letter to customers of the bank, according to which payments to Bitcoin exchanges, for example, will be blocked from Oct. 16. The letter states, "If we believe you are making a payment related to crypto assets, we will reject it."

Protection against fraud

The move is designed to protect customers and the bank's own payment network from fraud. With 1.6 million customers, Chase UK is a relatively small bank and serves as the U.K. retail arm of J.P. Morgan. CEO Jamie Dimon is considered a fierce critic of Bitcoin.

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