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Binance to Shut Down Crypto-Powered Visa Debit Card in Europe

Binance, the top global crypto exchange, has announced that it will be shutting down its crypto-powered Visa debit card service in the European Economic Area (EEA) in December. Customers' accounts will not be affected, and the exchange is urging European customers to transition to Binance Pay, its crypto payment technology.

The reason for the closure has not been provided, but Binance has faced regulatory issues in various jurisdictions this year, including departing from the Canadian marketplace in May and facing a lawsuit from the US Securities and Exchange Commission (SEC) in June.

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