MasterCard says companies that don't have a license will be deemed high risk
The days of buying cryptocurrencies or funding accounts with credit cards are slowly coming to an end, at least for unregulated companies.
Finance Magnates reports that companies in the business of binary options, CFDs, forex, cryptocurrency, options and ICOs will be deemed 'high risk' if they don't have a license to operate in that jurisdiction. The category means companies could be hit with chargebacks for up to 540 days.
"Starting from the 12th of October every payment processor who is processing the transactions of a high-risk securities merchant must demonstrate to Mastercard that adequate due diligence has been applied. Brokers and ICO issuers will be required to present evidence of legal authority to operate in a given jurisdiction," the report says.
