Cryptopay's EU Card Services in Jeopardy as License Revoked
The licence for Cryptopay's EU Card Services has been revoked.
The Bank of Lithuania has revoked the EMI license of UAB PayrNet, the provider of EU debit cards for Cryptopay. Users are advised to spend or transfer funds from their cards as they may soon stop working. However, funds held in the app's accounts are safe. The issue primarily affects EU users, but UK users may also experience temporary disruptions as card services have been temporarily turned off. Cryptopay is working on a solution and assures users that they will overcome this challenge. In the past, the company faced similar situations with banking crises and emerged successfully.