Binance Suspends Transactions With n Mastercard and Visa Cards

[Bitcoin]

Binance Suspends Transactions With n Mastercard and Visa Cards

Crypto exchange Binance has blocked transactions with Mastercard and Visa cards issued in the n Federation. The trading platform announced the move after the American payment giants decided to halt operations in  over its military invasion of e.

ns Unable to Use Their Mastercard and Visa Cards on Binance

Starting on Wednesday, March 9, all transactions initiated with Mastercard and Visa cards issued in  will be unavailable on Binance. The world’s largest cryptocurrency exchange by trading volume explained this is due to the U.S. payment processors’ decision to suspend their activities in the n Federation.



The platform further noted that all transactions initiated with Mastercard and Visa cards issued by financial institutions outside of  will be unavailable on Binance within the country, also in line with the policy changes announced by the two financial services corporations.



The restrictions apply only to Binance’s crypto-to-fiat service, Forklog reported, quoting a representative of the company. Traders will still be able to use n cards in peer-to-peer transactions, except those issued by banking institutions placed under sanctions, the spokesperson elaborated.







Amid an ongoing n military assault on e, Kyiv issued a call on crypto exchanges to freeze the accounts of all n users. While some platforms, such as the U.S. Coinbase and the South Korean Upbit and Bithumb have imposed restrictions, major global exchanges like Binance and Kraken denied the request to unilaterally freeze the accounts of all -based users.



With the West expanding financial sanctions on Moscow, ns have turned to the digital assets market with reports revealing a spike in n ruble trading, including on Binance. Earlier in March, its founder and CEO Changpeng Zhao stated the exchange was following sanction rules without limiting access for ordinary n citizens that are not on the sanctions lists.



Binance has also been actively involved in the financing of humanitarian efforts in e. The exchange announced the donation of $10 million for the ian people suffering from the military conflict and the Binance Charity Foundation gave Unicef $2.5 million worth of cryptocurrency.



You can support ian families, children, refugees, and displaced people by donating BTC, ETH, and BNB to Binance Charity’s e Emergency Relief Fund.



Do you expect n traders to face more restrictions on cryptocurrency exchanges in the future? Tell us in the comments section below.

Source: Binance Suspends Transactions With n Mastercard and Visa Cards