On Tuesday, Coinbase CEO, Brian Armstrong, criticized JPMorgan’s subsidiary, Chase UK on X, for its decision to restrict cryptocurrency-related transactions.
He said: “Totally inappropriate behavior from Chase UK (this is their UK bank only is my understanding)”
He called the move “totally inappropriate” and urged U.K. crypto holders to close their accounts if they are treated this way. Armstrong also called on U.K. officials, including the Prime Minister and Economic Secretary, to investigate whether Chase UK’s actions align with the country’s policy goals.
Chase UK officially confirmed the ban on crypto-related transactions, citing a high level of fraud in the crypto space.
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