Regulation
Binance resumes card purchases! A victory over regulation
2h00 ▪ 3 min reading ▪ by Eddy S.
In a recent development marking a turning point for the crypto industry, Binance, the world’s largest cryptocurrency exchange, announced the resumption of cryptocurrency purchases through Visa and Mastercard. This news comes after a period of regulatory difficulties which saw these services suspended.
Purchasing crypto by card is now possible again on Binance!
Binance’s ability to allow Mastercard users to purchase cryptocurrencies on the exchange again comes as a relief to many investors and users of the platform. Mastercard reportedly made the decision to once again allow Binance-related purchases on its network after a “thorough review of the strict controls and processes Binance has in place.”
The Shutdown of Crypto Services by card at Binance in the European Economic Area (EEA) had already been announced, following the end of Mastercard’s partnership with Binance in several countries, including Argentina, Brazil, Colombia and Bahrain, last September.
The move came shortly after the SEC filed a complaint against Binance in June 2023, accusing the crypto exchange of misappropriating customer funds and conducting unregistered securities offerings. As a result, the resumption of cryptocurrency purchases with Visa and Mastercard could signal the end of Binance’s regulatory problems.
Binance is making a comeback on the market!
Restoration of card payment services This is a significant step forward for Binance as it seeks to strengthen its leadership position in the global cryptocurrency market. With the resumption of card payment services, Binance is providing its users with greater flexibility and ease of access to purchasing crypto, thereby strengthening user confidence in the platform.
In conclusion, the restoration of crypto card purchases on Binance is good news for the exchange and the entire cryptocurrency industry. This could mark the start of a new era of stability and growth for Binance and its users, while paving the way for wider adoption of cryptocurrencies around the world.
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Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Basically a crypto community manager, I am interested in everything directly or indirectly related to blockchain and its derivatives. In order to share my experience and raise awareness of a field that fascinates me, there is nothing better than writing articles that are informative and relaxed at the same time.
DISCLAIMER
The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.