Binance news: Visa, and Mastercard have become central characters in a new chapter that every crypto enthusiast must be aware of. As the sands shift, the potential for opportunity grows, and here’s why you simply can’t afford to miss out.
Recent Legal Woes for Binance
In the wake of legal challenges posed to Binance, especially within the U.S., it’s hardly a revelation that global payment leaders Visa and Mastercard are reconsidering their ties with the cryptocurrency exchange. Binance, the world’s top crypto exchange in terms of trading volume, finds itself in the crosshairs of the U.S. Securities and Exchange Commission (SEC). Among the allegations are charges of running an unregistered enterprise and potential misleading of investors regarding the inherent risks. Further compounding Binance’s legal troubles are accusations from the U.S. Commodity Futures Trading Commission (CFTC) from May, suggesting the exchange knowingly skirted U.S. regulations. Moreover, rumors swirl around the U.S. Department of Justice’s intentions to investigate potential fraud charges against Binance.
Decisions from Payment Powerhouses
Amidst this legal storm, Visa’s recent decision to halt the issuance of new co-branded cards with Binance for its European market makes sense. Mastercard, on the other hand, has publicly ended its association with Binance. While specific reasons remain undisclosed, a spokesperson remarked on the termination of four pilot programs in various markets, emphasizing that other crypto card programs remain unaffected. Meanwhile, Binance informed its user base via social media platform X (previously known as Twitter) about the unavailability of the Binance Card for users in regions like Latin America and the Middle East.
Impact on Binance and Broader Industry
Despite these setbacks, experts remain bullish about Binance retaining its market dominance. Dave Weisberger, the chief executive of CoinRoutes, underscored Binance’s continued leadership in liquidity. He commented that as long as Binance retains this advantage, traders would likely remain loyal.
For the larger crypto landscape, Leo Mizuhara, helming the CFTC-regulated digital asset platform Hashnote, doesn’t foresee this development significantly upsetting the apple cart. Given Binance’s prior disputes with regulatory bodies, many in the industry had already braced for such moves. Mizuhara also highlights Mastercard’s prudent decision, suggesting it’s in line with the credit card behemoth’s increased inclination towards blockchain, aiming to associate with credible actors in the industry.
Continued Interest in Blockchain
Despite these developments and market fluctuations, both Visa and Mastercard appear unwavering in their commitment to the blockchain realm. Their intent to collaborate with industry stakeholders and introduce innovative payment programs remains robust.
- Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
- Binance and Mastercard Terminate Crypto Card Services in Four Countries
- Binance and CEO Changpeng Zhao Hit with CFTC Charges for Operating Illegal Crypto Derivatives Platform
- PEPE Coin Price to Reach $5 in the Next Seven Days?
- What are Crypto Cards and their phenomenal rise in 2019
- Binance CEO Faces Legal Action from SEC on Alleged Securities Violations
- Just In: Binance Possibly Facing Fraud Charges from U.S. DOJ
- Binance Collaborates with SEC for Onshore Transition of US Customers
- BLOODBATH: How low can BNB price go?
- You can now buy Bitcoin with your credit card: Binance
- BitMEX Settles For $100M With US. Authorities, Will Ban US Residents From Trading
- BIG NEWS: Binance US Streamlines Trading Pairs and Halts OTC Operations
- Top 10 Crypto-Blockchain News of the Year 2018
- Coinbase Glitch Costs Customers Thousands of Dollars
- CZ Binance Predicts DeFi’s Domination Over CeFi in Next Bull Run
- Competition for Card Payments Rising – But Is It Old Tech Anyway?
- Crypto News Today: Binance, ExchangeArt, and Worldcoin
- Why Binance Coin Is Still A Good Investment – Consider $BNB for 2022!
- Top 3 Crypto Debit Cards To Use For Online Transactions
- VISA Transfer System Allegedly Utilizing Ripple Blockchain Tech in Operations
- Binance to Exit Russian Market: Will Cryptos CRASH Again?
You might also like
More from Blockchain Companies
Identity Operating System (idOS) Launches: True user-owned identity management coming to NEAR, Gnosis, and Aleph Zero
Today marks the launch of the idOS (Identity Operating System), an open-source, chain-agnostic solution designed to serve as the identity …
TOKEN2049 presents top decision makers across the spectrum of traditional finance, big tech, global regulators to crypto-native entrepreneurs and builders.
Thodex Crash: Faruk Fatih Özer, the CEO and founder of the Turkish crypto exchange Thodex, has been sentenced to 11,196 …