Binance to halt crypto debit card in Latin America and the Middle East
Binance didn’t reveal the exact reason behind the suspension but claimed it would only impact 1% of users in the mentioned region. Cryptocurrency exchange Binance is going to suspend its crypto debit card services in Latin America and the Middle East starting from Aug. 25. The crypto debit card worked like most other debit cards that allowed their users to make payments on a day to day basis. The only difference is that these cards were funded by crypto currency assets. The crypto debit card services in Latin America and the Middle East will be terminated by Sept. 21 but the exchange claimed refunds and disputes can still be processed until Dec. 20, 2023. Binance crypto debit card interface. Source: X The issue first came to light when an X (formally known as Twitter) user enquired about the issues with crypto debit cards in Colombia. Binance responded to the query with the announcement suggesting that debit card services will be suspended starting Aug. 25 without offering cla...