JPMorgan Chase has reportedly shut down the Bitcoin Mining Company’s bank account

American banking big JPMorgan Chase is alleged to have blocked all account actions of Compass Mining, a Bitcoin (BTC) mining firm based mostly in Delaware. The info got here to gentle when the CEO of Compass Mining, Whit Gibbs announced:

“Requesting Chase to close the Compass Mining account in order to do our part in replacing the old guard with forward-thinking, sovereign hard currency proponents. Follow #Bitcoin or get out of our way. “

Compass Mining has been concerned with providing mining rigs and hardware storage services for Bitcoin mining. On the grounds of supporting the Bitcoin network and hash rate, the company enables individual users to conduct mining operations on their own infrastructure.

Cointelegraph has sought further comments from both parties and will update this article if they respond.

Related: JPMorgan currently offers its clients access to six crypto funds … but only if they ask for it

JPMorgan has shown support for the crypto ecosystem before – from finding blockchain talent to giving wealthy investors access to crypto funds.

On August 6th, JPMorgan granted access to six crypto funds over a three week period in an effort to provide crypto exposure to its clients. The move has now exposed traditional investors to the Stone Ridge Bitcoin Strategy Fund, which aims to develop strategies around Bitcoin futures contracts and aggregate direct and indirect Bitcoin investments.

Last month, Mary Callahan Erdoes, director of wealth and asset management at JPMorgan, emphasized the importance of meeting crypto investment needs. “A lot of our clients say, ‘It’s an asset and I want to invest,’ and our job is to help them get their money where they want to go,” she stated.