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<ul> 
 <li>Chase Bank’s UK division rejects crypto payments</li> 
 <li>Crypto community sparks a discussion about this move.&nbsp;</li> 
 <li>Many discuss the possible end to traditional banking.</li> 
</ul> 
<p>In a recent announcement, <a href="https://www.chase.co.uk/gb/en/" target="_blank" rel="noopener noreferrer nofollow">Chase bank</a> has informed its customers that it will decline payments related to Bitcoin and other cryptos. This decision has ignited a passionate debate within the crypto community, with prominent figures sharing their perspectives on social media.</p> 
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   <p lang="en" dir="ltr">Totally inappropriate behavior from <a href="https://twitter.com/Chase?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Chase</a> UK (this is their UK bank only is my understanding)<a href="https://twitter.com/RishiSunak?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@RishiSunak</a> <a href="https://twitter.com/griffitha?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@griffitha</a> It appears <a href="https://twitter.com/Chase?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Chase</a> UK does not respect your policy goals – thoughts?<br><br>UK crypto holders should close their <a href="https://twitter.com/Chase?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Chase</a> accounts if this is how they're going to be… <a href="https://t.co/n8OBxhtpcg" rel="noopener noreferrer nofollow">https://t.co/n8OBxhtpcg</a></p>— Brian Armstrong 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6e1.png" alt="🛡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1706787540215460155?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 26, 2023</a> 
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<p>As we can see from the post above, Bitcoin Archive downplays Chase’s move. It emphasizes that Bitcoin’s disruptive potential could render traditional banks obsolete. This sentiment reflects the belief that cryptos have the potential to reshape the financial industry by offering users more control over their funds.</p> 
<p>Meanwhile, <a href="https://cryptonewsland.com/brian-armstrong-mulls-over-coinbase-bank-with-non-fractional-reserve/" target="_blank" rel="noopener noreferrer nofollow">Brian Armstrong</a>, CEO, and co-founder of <a href="https://www.coinbase.com/" target="_blank" rel="noopener noreferrer nofollow">Coinbase</a>, expressed his dissatisfaction with Chase’s decision, specifically targeting Chase UK. Armstrong called the bank’s behavior “totally inappropriate” and questioned its alignment with government policies. He suggested that <a href="https://cryptonewsland.com/uk-bank-to-limit-withdrawals-protect-your-assets-with-xrp/" target="_blank" rel="noopener noreferrer nofollow">UK-based crypto holders</a> should consider closing their Chase accounts in response to the bank’s stance.</p> 
<p>Another prominent figure in the crypto space, Lady of Crypto, took this announcement to criticize banks and their practices. She highlights how traditional banks levy fees on customers while offering minimal returns on investments.&nbsp;</p> 
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   <p lang="en" dir="ltr">Banks call crypto a scam while they strong-arm us into paying them fees to invest our money, make a fortune, and give us a pittance in returns.<br><br>They irresponsibly gamble billions of our hard-earned money and when they lose it all the government bails them out.<br><br>They privatise… <a href="https://t.co/DyAceQZ5nq" rel="noopener noreferrer nofollow">pic.twitter.com/DyAceQZ5nq</a></p>— Lady of Crypto (@LadyofCrypto1) <a href="https://twitter.com/LadyofCrypto1/status/1706791327646544223?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 26, 2023</a> 
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<p>Moreover, she pointed out that banks often engage in risky financial activities, with the government stepping in to bail them out when things go wrong. She argued that calling crypto a scam is hypocritical, given the financial sector’s track record.</p> 
<p>In addition, she mentions how her bank treated her differently since she started investing in crypto. She argued that traditional banks view crypto as a threat because it empowers individuals to become their own banks, thus reducing their reliance on traditional financial institutions.</p> 
<p>The debate surrounding Chase’s decision highlights the ongoing tension between the crypto industry and traditional banking. While some believe cryptos offer financial freedom and innovation, others, including established financial institutions, continue to express skepticism about the digital assets’ long-term viability and safety.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4> 
<ul class="wp-block-yoast-seo-related-links"> 
 <li><a href="https://cryptonewsland.com/robert-kennedy-jr-stands-for-bitcoin/" rel="noopener noreferrer nofollow">Robert Kennedy Jr Stands for Bitcoin Amid Chase Bank Account Closures</a></li> 
 <li><a href="https://cryptonewsland.com/warren-buffett-jamie-dimon-bet-hard-in-crypto-after-years-of-denial/" rel="noopener noreferrer nofollow">Warren Buffett, Jamie Dimon Bet Hard in Crypto After Years of Denial</a></li> 
 <li><a href="https://cryptonewsland.com/finance-traditionalist-try-to-save-face-amid-banking-collapse/" rel="noopener noreferrer nofollow">Finance Traditionalists Try To Save Face Amid Banking Collapse&nbsp;</a></li> 
 <li><a href="https://cryptonewsland.com/cardano-ceo-calls-traditional-banks-a-ponzi-scheme/" rel="noopener noreferrer nofollow">Cardano CEO Calls Traditional Banks a Ponzi Scheme</a></li> 
 <li><a href="https://cryptonewsland.com/uk-bank-to-limit-withdrawals-protect-your-assets-with-xrp/" rel="noopener noreferrer nofollow">UK Bank Could Deny Withdrawals: Is XRP the Safeguard You Need?</a></li> 
</ul> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/crypto-community-unites-over-chase-banks-crypto-payment-denial/">Crypto community Unites Over Chase Bank’s Crypto Payment Denial</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Crypto community Unites Over Chase Bank’s Crypto Payment Denial

Crypto News Land

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