Slashdot: Bitcoin Debit Cards Suspended After Upstream Visa Rules Infraction
Bitcoin Debit Cards Suspended After Upstream Visa Rules Infraction
Published on January 06, 2018 at 11:49PM
At least four pre-paid debit cards that accept cryptocurrencies abruptly suspended service on Friday. An anonymous reader quotes TheNextWeb: Speaking to their customers on Twitter, the affected companies have said the move is the result of actions from their card issuer, [WaveCrest], who was acting on behalf of Visa Europe... A statement from Visa Europe obtained by The Daily Beast reporter Joseph Cox said the action was taken due to WaveCrest's "non-compliance" with VISA's membership regulations... In its statement, Visa makes clear that this isn't a crackdown on cryptocurrencies, but rather action against one company that broke its rules. "All funds stored on cards are safe and will be returned to your Cryptopay accounts ASAP," one of the affected debit card companies assured users on Twitter, adding "Sorry for all the inconvenience caused..." According to the article, "Some users on Twitter are reportedly stranded abroad without funds."
Published on January 06, 2018 at 11:49PM
At least four pre-paid debit cards that accept cryptocurrencies abruptly suspended service on Friday. An anonymous reader quotes TheNextWeb: Speaking to their customers on Twitter, the affected companies have said the move is the result of actions from their card issuer, [WaveCrest], who was acting on behalf of Visa Europe... A statement from Visa Europe obtained by The Daily Beast reporter Joseph Cox said the action was taken due to WaveCrest's "non-compliance" with VISA's membership regulations... In its statement, Visa makes clear that this isn't a crackdown on cryptocurrencies, but rather action against one company that broke its rules. "All funds stored on cards are safe and will be returned to your Cryptopay accounts ASAP," one of the affected debit card companies assured users on Twitter, adding "Sorry for all the inconvenience caused..." According to the article, "Some users on Twitter are reportedly stranded abroad without funds."
Read more of this story at Slashdot.
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