Visa and MasterCard: crypto-currencies and ICOs to as “high-risk” classified

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The two credit card companies Visa and MasterCard could in the future push harder against crypto-currencies and Initial Coin Offerings. So Assets from the crypto sector have been classified as “high risk”. In order for the two companies to secure, even in retrospect, crypto-transactions to roll back.

As the magazine Finance Magnates, citing insider sources reportedthat the two credit card providers Visa and MasterCard to crypto-currencies and ICOs more precisely targeted. So both companies have crypto-currencies and ICOs as high-risk securities. In addition to the crypto-Assets, Visa and MasterCard also Forex and Binary arrange transactions as very risky.

Credit card payments for crypto-traders are more complicated

This decision has both for the user as well as the industry effects. So the credit card reserve the company the right to up to 540 days after a transaction, a chargeback. This leads to plenty of uncertainty in the entire crypto sector, since under these circumstances no long-term planning of transactions can be guaranteed.

MasterCard implemented the new rules already as from this week, competitor Visa announced the Changes for December. Companies in focus, the act of a relatively unregulated market are mainly. This has consequences: As Finance Magnates writes, have declared some Exchanges already do not want credit cards-deposits, accept.

Visa and MasterCard are turning away from crypto-currencies

While both Visa as well as MasterCard, in terms of Blockchain-adaptation so interested in showing, and some pioneering work, to the same not of the crypto-enthusiasm, claim. A certain skepticism of the Peer-to-Peer payment system is due to the business model of the two credit card providers to understand.

On the other hand, supported the Visa up to the Drama of the European service provider wave crest some providers for crypto debit cards, among other things, Bitwala and TenX. Visa ended the collaboration in January 2018, were initially critical voices, the Visa-crypto-enemy of the accused. Visa, however, it was clearthat it was only to break with the issuing Bank, wave crest was.

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