Chase says it will block U.K. clients from making crypto payments

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Chase says it will block U.K. clients from making crypto payments

Chase, a U.K.-based digital bank subsidiary, told customers Tuesday in an email that it will block U.K. clients from making crypto-related payments or outgoing bank transfers starting Oct. 16 because of crypto scams, according to Reuters.

The UK's bill to regulate crypto assets has been passed into law, giving the economy 'rocket boost'.

The U.K. has been taking steps to expand its blockchain and crypto sectors, with Prime Minister Rishi Sunak a prominent supporter of the sector.

The UK is implementing royal decree - a policy that aims to regulate crypto.