Chase Bank, the UK's second largest bank, will stop processing from October 16 payments to cryptocurrency companies due to "an increase in the number of crypto scams."
According to the message sent by the bank to its customers:
"We'll decline it."
The bank's employees have recommended customers to use external providers to carry out such transfers.
According to CoinDesk, British users have a hard time finding industry-friendly organizations.
The FCA, the country's regulator, has even initiated talks between crypto industry participants and TradFi in order to improve the situation.
HSBC and Nationwide have introduced similar bans, followed by Lloyds and Starling Bank.