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Visa finally clears Coinbase

2018-02-19

Several users had complained about Reddit last week about Coinbase overbilling due to cryptocurrency purchases on the platform. Coinbase had recognized the problem and pointed out that Visa, referring in particular to a change of MCC code (an identifier that classifies transactions according to their nature) because of the banking group, which would have caused the unwanted reprocessing of transactions concluded between January 22 and the February 11th.

Visa had promptly issued its own statement saying that the group was rejecting the charges - suggesting a bit of #popcorntime for the next few days. It finally seems that today, Sunday, the responsibilities are better defined. Visa and Worldpay, the payment operator for Coinbase, issued a joint statement exonerating Coinbase of all liability - without clarifying the causes of the incident.

The CEO of Coinbase, Brian Armstrong, welcomed this release, which clears the platform accused of all the evils on social networks since the beginning of the crisis.

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