This piece of news hasn't been discussed much here yet, so what do you think of the Wavecrest debit card shutdown? The official word from VISA is that Wavecrest didn't comply with VISA regulations - but there's no hint at which specific regulations were disattended.
To me, it smells like a few governments put some pressure on VISA to end that service. VISA have been swift to oblige, as they always are as soon as a big actor uses power voice mode. But I might just be a rookie conspiracy theorist...
No need for a conspiracy theory - it's the same as banks blocking transfers to bitcoin exchanges - or closing accounts associated with Bitcoin - or limiting or double checking transfers to exchanges etc. It's just normal risk management. Accounts get hacked every day and once the money is drained off into cryptoland the bank has no way to recover it.
This explanation is not too convincing. With the risk of funds disappearing, Wavecrest wouldn't have been appointed in the first place, I suppose. I would really like to know which specific rules were disattended.
There are loads of other crypto/fiat debit cards that visa is still supporting. It's Wavecrest that visa is cracking down on, not crypto/fiat debit cards in general. It probably won't affect bitcoin's price anyway because most of the new buyers in the crypto ecosystem won't even know what a crypto/fiat debit card is yet.
Really? It would be nice, but I haven't been able to find "loads" of alternatives. Can you name a few, please?
