With insights from an mail wrote on June 22, 2023, Cryptopay, a European Union debit card provider, lost its Electronic Money Institution (EMI) license, stated Cointelegraph. The company announced to its EU cardholders that they should spend or transfer funds from their cards, as soon as possible. It is expected that the funds present in the user’s account are safe.
An email stated that only funds transferred to a user’s debit card would be affected. Otherwise, “this issue in no way influences your Cryptopay account which shall continue business as usual,” Cointelegraph added.
“This October it’s ten years on the market for us, we’ve seen worse. We’ve already been through similar situations in the past (back in 2018 when MasterCard and VISA pulled a plug on almost every existing crypto card programme and back in 2020 when Wirecard scandal hit the market), we’re confident that we’ll overcome this and keep on,” Cryptopay told Cointelegraph.
(With insights from Cointelegraph)
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