Coinbase CEO criticizes JPMorgan's UK branch for blocking customers from engaging in cryptocurrency trading decisions

ChainCatcher news, Coinbase CEO Brian Armstrong recently spoke on the X platform, criticizing JPMorgan's UK branch for its decision to prevent its UK customers from engaging in cryptocurrency-related transactions, stating that JPMorgan's decision is "absolutely wrong." Armstrong also urged UK cryptocurrency holders to consider closing their accounts with JPMorgan's UK branch and called on UK government officials, including Prime Minister Rishi Sunak and Economic Secretary Andrew Griffith, to investigate whether JPMorgan's actions align with the UK's policy objectives.

Previous report, JPMorgan's UK branch previously decided to ban UK customers from conducting cryptocurrency-related transactions starting October 16, citing "the presence of significant fraud issues in the cryptocurrency sector."