A large number of Visa's criptomoedas debit cards stopped working today, as the company closed its partnership with a debit card provider called WaveCrest. The cards affected by the shutdown of activities are those issued by WaveCrest, including also products from CryptoPay, Bitwala, TenX, Wirex and others.
The maneuver that at first seems to be related to crypto-coins is, in fact, a simple repression against WaveCrest, which apparently violated Visa's policies. A Visa representative said:
"We can confirm that Visa's partnership with WaveCrest has been terminated due to continued failure to comply with our operating rules. As a result, all WaveCrest Visa card programs will be finalized. Visa has other approved cryptomanced card programs converted into trust funds in various jurisdictions. The termination of the Visa and WaveCrest partnership does not affect any of these other products".
The significant increase in the attention of regulators has triggered the growing fear of possible repression of crypto-coins. However, the current confusion is specifically related to the problems involving WaveCrest. Other companies and issuers of cards were not affected.