Payment giants MasterCard and VISA will work with cryptocurrencies, and primary offerings of coins (ICO) as merchants from high risk category, which will impose certain restrictions on them. This was reported online edition of the Finance Magnates.
The resource Broker Complaint Registry, which aims to create a community of traders, controlling legal issues of interaction with brokers, reports that MasterCard began to talk about the high risks associated with the cryptocurrency in may. Now digital currency along with binary options, contracts for difference (CFDs), Forex and ICO fell into the category of “sellers of securities a high degree of risk”. In accordance with the classification of their activities will be closely monitored.
MasterCard official statement in fact means that the processing of chargebacks can now take up to 540 days after the date of the transaction. As reported by an anonymous source, the new MasterCard rules come into force today, and in December this year, a similar regulation is going to accept Visa. Changes in rules will affect all companies that do business without the proper licenses or does not need them.
Some of these companies have already informed their customers that will soon no longer accept Bank cards serviced by these two payment systems. This means that the clients of brokerage firms, whose activities are poorly regulated by law, will be forced to rely on Bank money transfers or use of alternative payment systems.
How to write Finance Magnates, the last step MasterCard consistent with their General anti-crypto policies, which the company expressed in July. Then Ajaypal MasterCard CEO Banga (Ajaypal Banga) said that is bad to non-anonymous crypto-currencies due to their high volatility and the inability to function as a medium of exchange.
Recall that Visa has ceased support of the cryptocurrency debit cards that were released in partnership with WaveCrest, in January of this year. The head of the payment giant then abruptly announced that Visa will only process Fiat transactions, as cryptocurrency — ever.
It is worth noting that with a negative attitude towards an anonymous cryptocurrency, MasterCard demonstrates the high interest in the blockchain and patent applications are regularly submitted describing the use of technology to address business processes. Last week, the company received a patent for a system that can support several different types of blockchains in one, and a month earlier, just three published applications with a description of the techniques of recording of transactional data in real-time.