Chase U.K. to Block Crypto Payments Citing Fraud, Scams

Chase U.K. is banning crypto-linked payments made by debit card or outgoing bank transfer for U.K. clients starting Oct. 16, according to an email to customers reviewed by CoinDesk. The email says Chase will decline payments it believes relate to crypto assets, while customers remain free to use another bank or provider to invest in crypto. Chase said that fraudsters are increasingly using crypto assets to steal large sums of money, and a Chase U.K. spokesperson said the bank has seen an increase in crypto scams targeting U.K. consumers.