JPMorgan's UK Digital Bank, Chase UK, has announced that it will block customers from purchasing cryptocurrency assets starting from October 16. The decision is aimed at protecting customers from fraudsters who use crypto assets to steal money. The move comes as UK consumer losses to crypto fraud have increased by over 40% in the past year, exceeding £300 million for the first time. Other banks in the country, including NatWest, HSBC, and Nationwide, have also imposed restrictions on crypto purchases to address the rise in fraud attempts.

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