{"id":141916,"date":"2023-09-01T20:38:52","date_gmt":"2023-09-01T15:08:52","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=141916"},"modified":"2023-09-01T20:38:52","modified_gmt":"2023-09-01T15:08:52","slug":"binance-and-mastercard-end-crypto-card-partnership-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/binance-and-mastercard-end-crypto-card-partnership-crypto-news\/","title":{"rendered":"Binance and Mastercard End Crypto Card Partnership – Crypto News"},"content":{"rendered":"

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Global payments company Mastercard is looking to <\/span>dissolve<\/span><\/a> its crypto card payment partnership with Binance. As a result, all four crypto card programs in Argentina, Brazil, Colombia, and Bahrain will be terminated by September 22.\u00a0<\/span><\/p>\n

Probable Cause for the Mastercard Deal Termination<\/strong><\/h2>\n

Binance is yet to issue a comment, however, in the early hours of Thursday, its customers\u2019 support account on Twitter (now known as X) posted that the Binance Card \u201cwill no longer be available to users in Latin America and the Middle East.\u201d<\/span><\/p>\n

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The reason behind the sudden decision was not disclosed but it is suspected to be related to the current regulatory challenges which Binance is facing in the United States.<\/span><\/p>\n

The US Securities and Exchange Commission (SEC) <\/span>sued<\/span><\/a> the leading exchange in June over the alleged violation of U.S. Securities laws. About 13 charges were levied on Binance and its Chief Executive Officer (CEO) Changpeng \u2018CZ\u2019 Zhao. The cryptocurrency exchange allegedly operated illegally in the United States, mishandled customers deposits, misled regulators and investors and listed unregistered securities.<\/span><\/p>\n

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Cardano (ADA), Polygon (MATIC) and Solana (SOL) were some of the tokens listed as unregistered securities in this case. At first CZ claimed to not have seen the official complaint. However, the exchange later <\/span>responded<\/span><\/a> to the regulator, stating that it was disappointed in the SEC but would definitely contest the allegations in court.\u00a0<\/span><\/p>\n

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In Binance\u2019s opinion, the U.S. regulator opted for enforcement and litigation instead of choosing a thoughtful, nuanced approach required by the dynamic and complex nature of the technology.<\/span><\/p>\n

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\u201cWhile we take the SEC\u2019s allegations seriously, they should not be the subject of an SEC enforcement action, let alone on an emergency basis. We intend to defend our platform vigorously,\u201d Binance explained.<\/span><\/p>\n<\/blockquote>\n

SEC Lawsuit Impacts Negatively on Binance<\/strong><\/h2>\n

At the time, the enforcement action impacted negatively on the broad crypto ecosystem. Prices of tokens began to <\/span>drop<\/span><\/a> drastically. The effect of this SEC lawsuit are yet to wear out as perceived in this Mastercard crypto card partnership termination.<\/span><\/p>\n

Notably, the news comes seven months after the offering was launched in Brazil. It was only in January when Mastercard and Binance <\/span>announced<\/span><\/a> the launching of crypto cards in the Latin American country.<\/span><\/p>\n

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Global payments company Mastercard is looking to dissolve its crypto card payment partnership with Binance. As a result, all four crypto card programs in Argentina, Brazil, Colombia, and Bahrain will be terminated by September 22.\u00a0 Probable Cause for the Mastercard Deal Termination Binance is yet to issue a comment, however, in the early hours of […]<\/p>\n","protected":false},"author":2,"featured_media":141917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-141916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141916","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=141916"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141916\/revisions"}],"predecessor-version":[{"id":146807,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141916\/revisions\/146807"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/141917"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=141916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=141916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=141916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}