MasterCard is ready to work with crypto-currencies, but under conditions

 It's not a secret for anyone that banks are very negative about crypto-currencies, and this is considered quite reasonable. The economy of the crypto-currency is a direct threat to the current financial system, which is represented by banks and other centralized financial institutions. Therefore, when the Executive Director of MasterCard announced that they are ready to work with crypto-currencies, many were very surprised. However, there are some limitations.

Despite the fact that MasterCard is not a fan of crypto currency, the company still pays a lot of time and effort to implement the technology of blockade. This became apparent after MasterCard and Visa classified the purchase of crypto currency as a cash advance.

"We conducted a serious explanatory work among buyers and  retailers regarding our position of using the transactional or commercial category of buying cryptocurrency. These instructions will be useful for traders as well as for issuers. "

It seems that the financial giant wants to show that its attitude to the crypto currency has changed, although in reality this is far from the case. In an interview with the Financial Times, MasterCard CEO Ari Sarker said the company would be pleased to consider using crypto currency, but not before virtual currencies are issued by central banks."If governments create national crypto-currencies, then we will gladly provide them on favorable terms. As soon as the crypto currencies are supported by regulators and liquidity, it will meet all regulatory requirements. In this case, this would be of greatest interest to us, "said Ari Sarker. At the moment, the company is conducting an experimental program in Japan and Singapore. Customers can cash out bitcoin and other crypto-currencies from their cards. However, this program is not intended for crypto-currency trading. In addition, the program has strict rules and control measures, such as KYC and anti-money laundering.In such statements from MasterCard there is nothing surprising, since banks want to get their share from a huge turnover of the crypto-currency sphere, but at the same time they want to retain control. Hence the desire to support the crypto-currencies issued by central banks. 

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