This is not a surprise : we see globally a regulatory pressure to remove crypto debit cards.
24 Aug 2023, 09:39
This is not a surprise : we see globally a regulatory pressure to remove crypto debit cards. It started after the collapse of FTX, since then several debit card providers stopped their crypto service offerings.
By attacking the fiat on/off ramps, central banks and governments try to get control over crypto.
Also for our project the launch of a crypto debit card offer is a very important milestone, which becomes more difficult with every new regulatory limitation that is imposed (SEC actions in the USA, MICA regulations in Europe, …)
Until August we worked towards a crypto debit card offer via OKSE, but also this service provider lost his debit card partner is and looking of a new one.
So at this moment we are looking for alternative providers that will be able to continue offering crypto debit cards for our projetc, also when new regulations (like MICA) will be fully in place