Binance has reportedly reintroduced Mastercard
payments for crypto purchases. This move comes after Mastercard paused this
service in August 2023 due to Binance’s legal challenges in the US. Both the
U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading
Commission (CFTC) had filed multiple charges against the exchange, leading to a
temporary cessation of these services.
Enhanced Security Measures
Binance’s spokesperson told Coindesk that this
decision was reached after a review of the controls and processes that Binance has implemented. Mastercard now allows Binance-related purchases on
its network and plans to support other services later, such as withdrawals.
Mastercard reportedly confirmed this development but
emphasized the importance of continuous monitoring. The payment giant mentioned
that it has reviewed the controls and processes that Binance has put into
place. Based on those efforts, the company decided to enable support of Binance
purchases and deposits on its network.
Expect ongoing updates as this story evolves.
This article was written by Jared Kirui at www.financemagnates.com.
