Crypto Biz: Did crypto winter scare off Visa and Mastercard? By Cointelegraph

Crypto cycles aren’t for the faint-hearted. As the industry continues to evolve from the cypherpunks into the mainstream, we can expect a lot of growing pains. The dumpster fire that was 2022 may have scared off many companies interested in exploring the sector. Case in point: Visa (NYSE:) and Mastercard’s embrace of crypto may have hit a snag thanks to the bear market and unclear regulations.

According to a new report by Reuters, the credit card giants are halting the launch of certain crypto products until market conditions and the regulatory environment improve. Cuy Sheffield, who heads Visa’s crypto division, wasn’t pleased with the report, reassuring the market that Visa is very much committed to seeing through its crypto ambitions.

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