DON’T Panic: Cryptopay EU Card Funds are Safe Despite Loss of License

Cryptopay EU Card Provider Loses License

Cryptopay, a European card provider, has lost its license to offer card services in the European Economic Area. The company announced the news in a statement on their website, citing a lack of compliance with the Payment Services Directive 2 (PSD2) as the reason for the loss of their license.

The PSD2 is a directive from the European Union that sets out the rules and regulations for payment services providers in the EEA. Cryptopay had been working to meet the requirements of the directive, but ultimately failed to do so.

In their statement, Cryptopay emphasized that the funds of their customers are safe and secure. They also promised to refund any fees customers may have paid for their services.

Cryptopay Card Funds Are Safe

Cryptopay has assured customers that their card funds are safe and that they will be refunded in full if their card is canceled. The company has stated that the card funds are held in a separate account and are not affected by the loss of its EU card provider license.

Cryptopay has also stated that it is in the process of finding a new card provider and that customers will be able to continue using their cards as soon as the new provider is found.

The company has assured customers that their funds are secure and that they will receive a full refund if their card is canceled.