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 <h2 id="strong-probable-cause-for-the-mastercard-deal-termination-strong"><strong>Probable Cause for the Mastercard Deal Termination</strong></h2> 
 <p><span style="font-weight: 400"><a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> is yet to issue a comment, however, in the early hours of Thursday, its customers’ support account on Twitter (now known as X) posted that the <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> Card “will no longer be available to users in Latin America and the Middle East.”</span></p>  
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 <p><span style="font-weight: 400">The reason behind the sudden decision was not disclosed but it is suspected to be related to the current regulatory challenges which Binance is facing in the United States.</span></p> 
 <p><span style="font-weight: 400">The US Securities and Exchange Commission (SEC) </span><span style="font-weight: 400">sued</span><span style="font-weight: 400"> the leading exchange in June over the alleged violation of U.S. Securities laws. About 13 charges were levied on <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> and its Chief Executive Officer (CEO) Changpeng ‘CZ’ Zhao. The cryptocurrency exchange allegedly operated illegally in the United States, mishandled customers deposits, misled regulators and investors and listed unregistered securities.</span></p>  
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 <p><span style="font-weight: 400">Cardano (ADA), Polygon (MATIC) and Solana (SOL) were some of the tokens listed as unregistered securities in this case. At first CZ claimed to not have seen the official complaint. However, the exchange later </span><span style="font-weight: 400">responded</span><span style="font-weight: 400"> to the regulator, stating that it was disappointed in the SEC but would definitely contest the allegations in court.&nbsp;</span></p>  
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 <p><span style="font-weight: 400">In <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>’s opinion, the U.S. regulator opted for enforcement and litigation instead of choosing a thoughtful, nuanced approach required by the dynamic and complex nature of the technology.</span></p> 
 <blockquote> 
  <p><span style="font-weight: 400">“While we take the SEC’s allegations seriously, they should not be the subject of an SEC enforcement action, let alone on an emergency basis. We intend to defend our platform vigorously,” <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> explained.</span></p> 
 </blockquote> 
 <h2 id="strong-sec-lawsuit-impacts-negatively-on-binance-strong"><strong>SEC Lawsuit Impacts Negatively on Binance</strong></h2> 
 <p><span style="font-weight: 400">At the time, the enforcement action impacted negatively on the broad crypto ecosystem. Prices of tokens began to </span><span style="font-weight: 400">drop</span><span style="font-weight: 400"> drastically. The effect of this SEC lawsuit are yet to wear out as perceived in this Mastercard crypto card partnership termination.</span></p> 
 <p><span style="font-weight: 400">Notably, the news comes seven months after the offering was launched in Brazil. It was only in January when Mastercard and <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> </span><span style="font-weight: 400">announced</span><span style="font-weight: 400"> the launching of crypto cards in the Latin American country.</span></p> 
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Just In: Binance and Mastercard End Crypto Card Partnership

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