Bitcoin Debit Cards Suspended After Upstream Visa Rules Infraction (thenextweb.com)

At least four pre-paid debit cards that accept cryptocurrencies abruptly suspended service on Friday. An anonymous reader quotes TheNextWeb: Speaking to their customers on Twitter, the affected companies have said the move is the result of actions from their card issuer, [WaveCrest], who was acting on behalf of Visa Europe... A statement from Visa Europe obtained by The Daily Beast reporter Joseph Cox said the action was taken due to WaveCrest's "non-compliance" with VISA's membership regulations... In its statement, Visa makes clear that this isn't a crackdown on cryptocurrencies, but rather action against one company that broke its rules.
"All funds stored on cards are safe and will be returned to your Cryptopay accounts ASAP," one of the affected debit card companies assured users on Twitter, adding "Sorry for all the inconvenience caused..."

According to the article, "Some users on Twitter are reportedly stranded abroad without funds."

Comments

Unreal

[jwymanm]

It's unreal how much anti crypto talk there is here. This used to be a site for nerds and now it's just frigging negative crabby assholes. Bitpay in the USA was not hurt by this it was the VISA partner in Europe that wasn't following rules. If it were a crack down on blockchain it'd be everywhere and every partner of VISA dealing with it.

Stranded abroad without funds ?

[RedK]

Because they thought backpacking with only a sketchy non transaction oriented currency was a good idea.

Shows that crypto currencies aren't just being used by bright people.