Mastercard, Binance to end crypto card partnership

Main topic: Checkout.com terminates its relationship with Binance, citing regulatory concerns and inquiries from partners. Key points: 1. Checkout.com, a credit card payments processor, has stopped servicing Binance, the world's largest crypto exchange. 2. The termination was based on reports of regulatory actions, concerns over Binance's anti-money laundering and compliance controls, and inquiries from partners. 3. Binance disagrees with Checkout.com's basis for termination and is considering legal action. Additional hint on Elon Musk: This passage does not mention Elon Musk.

Binance, the world's largest cryptocurrency exchange, caused confusion by mistakenly announcing on social media that euro transactions were no longer available, but it was clarified that euro transactions will continue until September 25th with Binance's banking partner in the region. However, the exchange is currently facing legal troubles and difficulties in various countries, making it challenging to find alternatives.

Cryptocurrency exchange Binance will suspend its crypto debit card services in Latin America and the Middle East without providing a specific reason, impacting less than 1% of users in those regions.

Mastercard and Visa will end their partnerships with crypto exchange Binance, discontinuing their crypto card offerings in several countries by September 2022.

Binance has lost business with Mastercard and Visa as traditional financial institutions become wary of working with the cryptocurrency exchange due to regulatory scrutiny and concerns over compliance within the crypto industry.

Binance.US, the United States arm of the crypto exchange, has cut around a third of its staff and its CEO has departed amid legal action from US regulators.

Cryptocurrency exchange Binance plans to delist stablecoins in the European market by June 2024 to comply with MiCA regulations, potentially impacting the market in Europe compared to the rest of the world.