MasterCard Prohibits Crypto Transaction; VISA to Follow Suit

MasterCard Prohibits Crypto Transaction; VISA to Follow Suit

According to Finance Magnates, on 15 October, MasterCard is enforcing a transaction ban on ICOs, Cryptocurrencies, Forex trading, and binary options

This action implies that credit card holders can no longer utilize the payments services to buy cryptocurrencies or add funds to their wallet. The move is said to target operators from territories with lenient or non-existent regulations.

By December, VISA will be imposing a similar ban. Holders of VISA credit cards will have until the end of this year to begin searching for alternatives to fund their wallets or buy cryptocurrencies.

High Risk

In April, digital assets were categorized by MasterCard and VISA as high risk. This would mean that chargebacks could take up to 540 days, after transaction, to be completed.

The Two Payments Behemoth and Blockchain

Last month, MasterCard Labs, the R&D arm of the payments giant, was looking forward to quicken the speed of its payments processing through blockchain. And according to data from Bitstamp, Bitcoincharts, and B.C.I., VISA and MasterCard has been outperformed by Bitcoin in transaction value.

Bitcoin

BTC
Price
8,744 USD -6.81%
Volume, 24h
3,497,717,274 USD
0.00%
Marketcap
153,922,072,217 USD
56%
Emission
84%

Related news

Chainalysis Blockchain Analysis Firm Launches First-Ever Alert System for Suspicious Crypto Transactions

Chainalysis launches the first ever suspicious real time alert system for cryptocurrency transactions – Chainalysis Know Your Transaction (KYT) alerts. Chainalysis, a cryptocurrency and blockchain security analysis firm, announced on August 22 the launch of the first real time alert systems for suspicious cryptocurrency transactions. The system provides compliance officers and firms dealing with crypto […]
Bitcoin Exchange Guide

Feuding Ethereum Siblings Score Pre-Fork Surges as Bitcoin Price Lags

By CCN Markets While the bitcoin price languishes this week, ethereum classic is enjoying a spectacular spike ahead of its scheduled September hard fork. And the ethereum price is rising too. As of this writing, the price of ethereum classic (ETC) rocketed 20 percent to top $7.38 per coin. ETC has been on a sizzling rally […] The post Feuding Ethereum Siblings Score Pre-Fork Surges as Bitcoin Price Lags appeared first on CCN Markets
CCN

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.