Chase UK, the leader in digital banking services in the country, has taken the step of banning payments related to cryptocurrency. The email sent to their clients days that this measure is to safeguard the customers in a moment when ‘crypto’ fi carries have risen significantly. The Action Fraud center in the UK reported that ‘crypto asset-related’ losses amounted to £300m for the Marchending year, growing by a humongous 40% over the previous year’s multiplier. It is believed that 25% of all the crypto-asset transactions conducted through Chase UK are scam Gotham-based exchanges, and thus the final decision has been made.
An authorized individual from Chase UK commented that so as to ensure good customer care, it is essential for them to not allow crypto-related purchases or money transfers to trading platforms. Majority of banks in the United Kingdom are countering the cryptocurrency hailstorm, withlimits on the maximum payments. HSBC is ranking on the forefront as they allow monthly transfer limits of upto £10,000, with a few banks like RBS and Santander capping it at £6000 & £3000 per month respectively. Thus, quieter thanover many people in the EU are not able to continue money locks bets to the exchanges.
