Bitcoin Debit Cards Halt Service to Non-European Residents Due to Visa’s New Rules

OK - I life in Europe, but it shows new risks lurking in the cryptocurrency market.

I hope that the existing cryptocurrency debit cards will survive this - not to mention my investment in PAY token.

Anyways - I am going to keep my tokens and see what the future holds... I see dark clouds in the sky, be it for the cards or for my investment....

Get a glimpse of it here:

Four bitcoin Visa debit cards are suspending service to non-European residents due to Visa’s new licensing restrictions. BTCC and Bitwala have joined Xapo and Shakepay to stop debit card service to users who reside outside of the Visa European payment network.

Non-European residents, including European citizens who are not currently living in Europe, can no longer order new Visa cards from the four companies. For Bitwala cards, users who successfully ordered them on August 9 onward have been refunded, the company revealed.

Customers living in the European territory can continue using their cards “by uploading a proof of domicile in one of the supported countries,” Bitwala described. BTCC explained that the ID verification process includes “providing scans of their ID and address-verification documents.”

BTCC has listed the countries unaffected by the change. They are: Andorra, Austria, Bailiwick of Guernsey, Bailiwick of Jersey, Belgium, Bulgaria, Canary Islands, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Greenland, Hungary, Iceland, Ireland, Isle of Man, Israel, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom.

Source: https://news.bitcoin.com/bitcoin-debit-cards-non-european-residents-visas-new-rules/