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Not again! That's really a bad step by Chase Bank. This move...

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Santo12

10 Posts.

27/09/23

01:34

Post #: 70041775
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Originally posted by Abizee27: ↑

Chase Bank's UK customers were recently notified about a concerning development: starting from October 16th, the bank will prohibit all payments related to cryptocurrencies. In an email communication, the bank explicitly mentioned that if any customer's transaction is suspected to be crypto-related, it will be declined.

This comprehensive ban on cryptocurrency payments follows similar measures taken by other major banks in the United Kingdom to restrict transactions involving digital currencies. Advocates within the industry argue that this reluctance is partly due to conflicting regulatory messages regarding the appropriate balance between innovation and risk management in crypto finance.

Chase Bank justified this ban by stating that fraudsters are increasingly exploiting cryptocurrencies for monetary theft. While this reasoning is understandable, it reinforces the perception that cryptocurrencies are primarily associated with criminal activities rather than legitimate uses.

I think it's about time to consider other options but what options are there?

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Not again! That's really a bad step by Chase Bank. This move reeks of regressive thinking and a lack of understanding of the immense potential and value that cryptocurrencies bring to the financial world. Now it's time to move on to a new destination, such as Bitget or Coinbase , to keep cryptoactivity alive for the UK people.
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