VISA Litecoin cards will stop working in the US from May 1

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The Litecoin Foundation has notified US Litecoin VISA cardholders that due to the end of partner support, they will no longer be able to use bank cards for payments.

According to the official Litecoin announcementFoundation on Twitter, U.S. service and support for Litecoin VISA cards will end on April 30, 2023. Starting from May 1, transactions using these cards will become impossible due to the decision of the banking partner of MCBankNY to stop supporting all transactions in cryptocurrencies.

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Please be aware if you&#8217;re enrolled ina US Litecoin Visa card you will no longer be able to use it as of May 1st, 2023. Our partner @UnbankedHQ is transitioning away from banking partner @MCBankNY, who have decided to stop supporting businesses that touch digital currencies. pic.twitter.com/LlL8xSYsqI

— Litecoin Foundation (@LTCFoundation) April 19, 2023

The Litecoin Foundation clarified that this isThe temporary restriction, which will be in effect during the search for alternative banking partners, will only affect the card program deployed in the United States. EU or UK VISA Litecoin card programs will not be affected. Cards issued in the EU and UK are fully supported, including withdrawals.

The continuation of the banking crisis in the United States andThe harsh regulatory response to the situation in the country has prompted US payment giants VISA and Mastercard to temporarily abandon plans to enter into new partnerships with crypto companies, as well as delay the launch of some cryptocurrency-related products and services until market conditions improve and regulatory environment.