Wirecard: Crypto Card Users’ Funds Locked as UK Regulator Suspends Subsidiary

UK Financial Conduct Authority (FCA) on Friday suspended the license of Wirecard Card Solutions (WCS), a unit of troubled Wirecard AG, which is responsible for issuing Visa cryptocurrency debit cards. FCA said Wirecard Card Solutions “is no longer permitted to conduct any regulated activities” and “must not dispose of any assets or funds.”.

Kris Marszalek, chief executive officer of Crypto.com, stated that the FCA had “effectively shut down Wirecard UK” and that European card users will no longer be able to use their cards. What do you think about the impact of Wirecard’s collapse on the issuance of crypto debit cards?.

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