MasterCard and Visa are cracking down on crypto exchanges and ICOs

[mlawson71]

The credit card giants MasterCard and VISA are taking measures against unregulated brokers by classifying all transactions to forex, binary, CFD and crypto brokers, as well as ICOs as high risk.

MasterCard has already implemented the new rules, while VISA is expected to follow suit this month.

For the customer of VISA and MasterCard the new rules mean, that they will successfully be able to file for a charge back within 540 days. Currently charge backs are only available within the first 180 days after the deposit was made.

The new category of high risk investment brokers is designated as “High-Risk Securities Merchants”.

The measure is aimed primarily at unregulated brokers, based in offshore territories that most often turn out to be scammers.

Source: https://theforexreview.com/2018/10/15/mastercard-and-visa-crack-down-on-offshore-forex-brokers/