Regulation
Binance resumes card purchases! A victory over regulation
2h00 ▪ 3 minute read ▪ by Eddy S.
In a recent development that marks a turning point for the cryptocurrency industry, Binance, the world’s largest cryptocurrency exchange, has announced the resumption of cryptocurrency purchases via Visa and Mastercard. This news comes after a period of regulatory difficulties which saw these services suspended.
Buying cryptocurrencies with a card is now possible again on Binance!
Binance’s ability to allow Mastercard users to purchase cryptocurrencies on the exchange is once again a relief for many investors and users of the platform. Mastercard has reportedly decided to allow Binance-related purchases on its network again after a “thorough review of the rigorous controls and processes put in place by Binance.”
The shutdown of crypto services by card on Binance in the European Economic Area (EEA) was previously announced, following the end of Mastercard’s partnership with Binance in several countries, including Argentina, Brazil, Colombia and Bahrain, last September.
This decision came shortly after the SEC filed charges against Binance in June 2023, accusing the cryptocurrency 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 forcefully returns to the market!
The restoration of card payment services It is a significant step forward for Binance as it seeks to strengthen its leading position in the global cryptocurrency market. With the resumption of card payment services, Binance offers its users greater flexibility and ease of access to purchasing cryptocurrencies, thus strengthening users’ trust in the platform.
In conclusion, the restoration of card crypto purchases on Binance is positive news for the exchange and the entire cryptocurrency industry. This could mark the beginning 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.
Maximize your Cointribune experience with our “Read to Earn” program! Earn points for every article you read and access exclusive rewards. Sign up now and start earning benefits.
Click here to sign up to “Read to Earn” and turn your passion for cryptocurrencies into rewards!
Eddy S.
The world has evolved and adaptation is the best weapon to survive in this wavering universe. The crypto community manager at the base interests me in everything that touches or comes close to the blockchain and its derivatives. With a view to sharing my experience and getting to know a domain that I am passionate about, I am the one who writes informative and décontractés a la fois articles.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be relied upon as investment advice. Do your research before making any investment decisions.