Binance reinstates crypto purchases with Mastercard and Visa – DiarioBitcoin
By Hannah Perez
Credit card giants Mastercard and Visa distanced themselves from Binance last year amid legal disputes with US regulators.
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- Binance announced that its users can buy cryptocurrencies again with Mastercard and Visa
- The exchange also re-enabled SEPA transfers for European users
- Payment giants have walked away from the exchange following legal action by US regulators.
The users of Binance They will be able to buy cryptocurrencies again with Mastercard and Visa.
The world’s largest cryptocurrency exchange announced this Thursday that it has resumed cryptocurrency purchases through bank transfers using cards Visa and Mastercard.
SEPA transfers for European Union member countries have also been reinstated, the company said in a post on its Facebook account. xwhich means that European customers of Binance They will be able to use these three traditional payment methods again to buy digital currencies from the platform.
The credit card giants chose to distance themselves from the exchange last year in the face of regulatory challenges the company has faced. In June 2023, the US Securities and Exchange Commission (SEC) filed charges against Binance for the unregistered sale of securities and operating a business in the US without the relevant permits.
The exchange was previously facing a lawsuit from the US Commodity Futures Trading Commission (CFTC). In December, Binance paid a historic $4.3 billion fine to resolve separate charges from the U.S. Department of Justice. Its founder, CZ, who also reached a deal with prosecutors, was sent to prison.
Visa and Mastercard decided in August to end their credit card agreements with Binanceas reported at the time.
“Following a thorough review of the rigorous controls and processes that Binance put in place, Mastercard made the decision to allow Binance-related purchases on its network.“said a spokesperson for Binance by email to CoinDesk “We hope to add support for more products, such as recalls, at a later date“.
It is unknown if the decision will have other implications for the exchange, such as the reintroduction of cryptocurrency cards from Binance in the European market or others.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
