Crypto Cards Affected as UK Regulator Suspends Wirecard Subsidiary
Cointelegraph
Published Jun 26, 2020 06:30AM ET
Updated Jun 27, 2020 08:20AM ET
Wirecard’s subsidiary responsible for issuing debit cards, Wirecard Card Solutions Ltd., has been suspended by the United Kingdom’s Financial Conduct Authority, or FCA.
According to a statement issued on June 26 by the regulator, Wirecard’s subsidiary is required to not dispose of any of its funds, stop conducting any of its regulated activity, and it must communicate on its website and to its customers that it is no longer permitted to conduct regulated activity.
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Written By: Cointelegraph
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