MasterCard Axes Partnership With Binance Amid Regulatory Pressures
The crypto space is in pandemonium after MasterCard, a global payment service giant, announced the imminent termination of its services and alliance with the Binance crypto exchange. Mastercard To Sever All Ties To Binance Binance, the world’s largest cryptocurrency exchange by trading volume, is facing new challenges that could impact its reputation and growth rate. According to reports, Mastercard will discontinue its services on Binance, ending a years-old relationship and crypto cards programs starting Friday, September 22. Related Reading: Is Binance Really Selling Bitcoin To Prop....
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Payments giants Visa and Mastercard say they are monitoring Binance’s regulatory compliance developments as more regulators come after the global crypto exchange for operating in their countries without authorization. Visa, Mastercard Monitoring Binance’s Regulatory Troubles Visa and Mastercard have not severed ties with cryptocurrency exchange Binance despite rising regulatory scrutiny. The two payments giants have not blocked Binance and cardholders can still use Visa and Mastercard to deposit funds into their accounts at the exchange. Visa told the Financial Times Friday....
Crypto exchange Binance has partnered with Mastercard to launch a cryptocurrency power card for customers in Argentina. The card will be useful to spend digital assets in everyday purchases, a press release says, and reduce the gap between crypto and fiat payment rails. Related Reading: BlackRock Offers Crypto To Investors Via Latest Partnership With Coinbase […]
Crypto exchange Binance has blocked transactions with Mastercard and Visa cards issued in the Russian Federation. The trading platform announced the move after the American payment giants decided to halt operations in Russia over its military invasion of Ukraine.
Russians Unable to Use Their Mastercard and Visa Cards on Binance
Starting on Wednesday, March 9, all transactions initiated with Mastercard and Visa cards issued in Russia will be unavailable on Binance. The world’s largest cryptocurrency exchange by trading volume explained this is due to the U.S. payment....
In light of recent regulatory crackdown and backlash, global crypto exchange Binance is beginning to crack down on its customer verification requirements across its platform. More specifically, the exchange is restricting its once lenient know-your-customer (KYC) requirements. Effective immediately, new customers wanting to use Binance’s services are required to complete the platform’s intermediate verification processes, […]
There has been a lot of developments in the crypto space since its inception. But it seems that the regulatory authorities are wakening up to strengthen the system. Amid such concerns, Binance CEO, Changpeng Zhao, opines that the crypto industry might grow and develop, but the regulatory framework is not defined. According to him, Binance […]