MasterCard and Visa took the cryptocurrency and ICO to “securities with high risk”
MasterCard and Visa, the largest global payment operators will now include cryptocurrency and ICO to high-risk assets. About it reports Financial Magnents, citing its sources.
Plans for the introduction of such a classification MasterCard already hinted in may this year. According to it, binary options, contracts for difference, forex, cryptocurrency options and ICO, 12 October 2018 should fall under a new category, “securities with a high degree of risk,” which means to conduct additional monitoring. Finance Magnates writes that under such a classification procedure chargeback can be done up to 540 days after the effective date of the transaction.
Anonymous sources have confirmed Finance Magnates that the new MasterCard rules will take effect October 15. Visa is planning to implement a similar classification in December of this year.
Sources also said that such classification is primarily aimed at all companies who run their business without the licenses or do not require them. According to the Finance Magnates, some of these companies have already informed their clients that they cease to accept credit cards.
MasterCard’s policy is consistent with the General critical position in regard to cryptocurrencies, publicly expressed by the company. In July 2018 CEO of MasterCard Ajay Banga said that the process of mining cryptocurrency is anonymous, the cost of which is subject to severe fluctuations, is “garbage”. However, the company is actively patented technologies associated with bloccano and cryptocurrency: anonymous transactions, payments with cryptocurrencies, protection from carders and the blockchain system to prevent fraud with the coupons.
Guide Visa MasterCard occupies a similar position. In March, chief financial officer Vasant Prabhu said he believes bitcoin and other digital asset bubble, because they are on many unsophisticated investors.