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Coinbase CEO Criticizes Chase UK’s Ban on Cryptocurrency Transactions

Brian Armstrong, the CEO of the famous US-based cryptocurrency exchange platform, Coinbase, has strongly criticized Chase UK’s recent decision to ban cryptocurrency-related transactions. Speaking on X (formerly known as Twitter), Armstrong described the bank’s decision to prohibit UK customers from making cryptocurrency-related bank transfers or debit card transactions as “totally inappropriate”.

La réaction et l’espoir d’une reconsidération

Armstrong’s strong response went further, suggesting that those invested in crypto in the UK may consider changing banks, “UK crypto holders should close their Chase accounts if this is how they’re going to be treated,” he said. The CEO also called out top UK officials, including Prime Minister Rishi Sunak and Economic Secretary Andrew Griffith, urging them to assess the alignment of Chase UK’s new policy with national goals. Keeping his optimism, Armstrong expressed hope for a possible reversal of this decision, stating, “I really hope there’s more to this story than meets the eye and that this doesn’t reflect the true view of Chase UK.”

Les intérêts de Coinbase au Royaume-Uni et les complications aux États-Unis

Coinbase, with its strong presence in regions such as the US, Europe, and Canada, recognizes the UK as a key market. As stated on its official website, the platform is actively working to expand its footprint in the UK and European sectors. This enthusiasm was evident in April 2023 when Coinbase declared its rigorous efforts in expanding in the UK and Europe. However, these expansion ambitions are overshadowed by legal challenges in the US, as the SEC filed charges against Coinbase for alleged securities law violations in June 2023.

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