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Coinbase CEO slams Fling UK for ‘entirely infamous’ crypto slump

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Coinbase CEO Brian Armstrong has been actively pursuing the exchange’s expansion ambitions in the United Kingdom amid mounting upright points in the U.S..

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Brian Armstrong, CEO of principal United States-essentially based cryptocurrency exchange Coinbase, has condemned the choice of JPMorgan’s subsidiary Fling UK to restrict crypto-linked transactions.

Brian Armstrong took to X (previously Twitter) on Sept. 26 to slam Fling Bank for its “entirely infamous” slump to ban its customers in the United Kingdom from making any debit card or wire transfers linked to crypto transactions.

“U.Okay. crypto holders can also merely quiet conclude their accounts if this is how they’ll be treated,” Armstrong wrote. The CEO furthermore urged U.Okay. officers — including U.Okay. High Minister Rishi Sunak and U.Okay. Economic Secretary Andrew Griffith — to verify whether Fling UK’s actions appreciate the country’s coverage targets.

Armstrong expressed hope that Fling UK could perchance alternate its decision after the officers discover into the scenario, declaring:

“In actuality hoping there is more to this legend than meets the watch, and that this would not replicate Fling UK’s right discover.”On Sept. 26, Fling UK officially confirmed to Cointelegraph that the company made up our minds to ban its customers from making any crypto-linked transactions, citing a excessive stage of fraud in crypto.

“Customers will catch a declined transaction notification if they discontinuance are trying to compose a crypto-linked transaction,” the bank talked about in a assertion.

Linked: SEC raises issues over Coinbase in objection to Celsius restructuring opinion

Per Coinbase’s legit web pages, the U.Okay. is amongst the regions supported by the platform, alongside the US, Europe and Canada. The exchange has been actively pursuing its expansion ambitions in the United Kingdom. In April 2023, Coinbase acknowledged that the company became once working “seriously” in the U.Okay. and Europe.

While pushing aggressive expansion in the U.Okay. and Europe, Coinbase has been dealing with upright points at house. In June 2023, the U.S. Securities and Change Payment filed a lawsuit in opposition to Coinbase, alleging that the exchange had violated securities regulations.

Journal: Crypto regulations — Does SEC Chair Gary Gensler accept as true with the final enlighten?

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