Othmane samnan

MasterCard and Visa have backed away from their card partnership with Binance, distancing themselves from the cryptocurrency platform that is under threat from regulators around the world.

“As of July, Visa has stopped issuing new co-branded cards with Binance in Europe,” a Binance spokesperson said.

Meanwhile, in September MasterCard is ending its card partnership with Binance entirely, and declined to say why for the move.

Financial regulators around the world have imposed intense scrutiny on Binance, with pressure intensifying amid a crackdown on the industry following a series of scandals last year.

The US Securities and Exchange Commission has sued the company and its CEO, Changpeng Zhao, for violating securities rules, and the Commodity Futures Trading Commission has sued Binance for evading the rules by allowing US users to access the platform. The company has disputed these claims.

May God’s peace, mercy, and blessings be upon you. Now, my friends
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