According to CoinDesk, it is understood that Mastercard is resuming cryptocurrency payment and deposit services on the Binance exchange, but withdrawal services have not yet been restored.
Binance can now once again allow Mastercard users to buy cryptocurrencies on the exchange, after the financial card giant shut down the feature in August 2023. Binance said that in addition to allowing payments via Mastercard, Binance-branded Visa cards will also be reissued.
When Mastercard decided to part ways with Binance last year, Binance was dealing with legal challenges in the United States, including multiple accusations from the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
A Binance spokesperson said via email:
“After an extensive review of the strict controls and processes implemented by Binance, Mastercard has decided to allow Binance-related purchases on its network. We look forward to adding support for other products, such as withdrawals, in the future.”
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