Earlier this week, JPMorgan Chase UK, a standalone digital banking entity in the UK since 2021, delivered surprising news. They announced that their customers would no longer have the option to purchase crypto using Chase UK debit cards or via bank transfers.

While such decisions aren’t entirely unprecedented, the rationale provided by the bank, concerns explicitly about rising digital currency-related frauds, raised eyebrows, especially within the community.

Brian Armstrong, the CEO of Coinbase, one of the largest digital currency exchanges in the world, didn’t mince his words when expressing his displeasure.

During an interview with CNBC’s “Squawk Box” on Thursday, the CEO criticized the decision, emphasizing that private entities should not be in the business of “sidelining” an entire industry.

Armstrong’s Perspective On The Matter

Armstrong’s primary contention is that deciding the fate of industries, particularly one as noteworthy as crypto, should rest with governments, not individual enterprises. Armstrong was quoted on CNBC’s “Squawk Box” saying:

I don’t think that’s OK. I don’t think that’s the rule

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Author: Samuel Edyme

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