Security News > 2022 > October > Mastercard moves to protect 'risky and frisky' crypto transactions

MasterCard has named its effort Crypto Secure and says it "Allows to better assess the risk profile of crypto exchanges or other providers."

Kelly told The Register that crypto exchanges are currently rated as similar risks to purveyors of gambling and prostitution - sectors known as "Risky and frisky" in the payments industry.

Which is why Mastercard is helping issuers to identify which crypto exchanges are real and/or trustworthy!

Taking steps to encourage issuers to allow transactions with crypto exchanges might not affect the number of crypto transactions, but may mean more Mastercards are used to make them.

Crypto Secure thereby enables Mastercard to address the threat of Visa dominating the crypto market and transactions in virtual assets.

All of which leaves both of the major card providers clearing the way for cardholders to acquire crypto assets - even as authorities around the world increasingly warn they're a terribly risky investment and clamp down on their use by criminals, terrorists, ransomware scum, and pariah nations like North Korea.

News URL

https://go.theregister.com/feed/www.theregister.com/2022/10/10/mastercard_crypto_secure/