The fact that Visa imposes restrictions on binary options is not news for a long time, and Tal Miller, founder of the Fibonatix Group, explains why this happened.
Firstly, according to Tal Miller, due to the fact that significant funds are involved in binary options, many people came to the industry who do not belong there – from the criminal environment. They are responsible for the fact that illegal practices are widely used, up to direct fraudulent methods. And if in the gaming business the amounts of bets are relatively small, then in binary options they can reach hundreds of dollars. Many people have been seriously injured by running into scammers. Therefore, this problem is of such concern to regulators.
Secondly, billions of euros pass through the industry every year, and it goes without saying that the state is interested in having its share in this.
Another interesting fact is that in many countries binary options are banned, but again, this is reminiscent of the situation with Israel, in which casinos were banned, but at the same time, all the newspapers offered to bet on horse racing from the English operator. So what? But nothing, because it was controlled by the national lottery.
Binary options are not among Visa’s priority business partners , but there are many problems with them. Especially, Visa is going to optimize its activities. The main number of online companies are served in Europe, and this creates additional problems, since the company prefers to work primarily with a bank from its own country. And in the case of binary options, it often happens that a shell company is opened in one country, and the activity is carried out in another country. Fortunately, EU law allows this. But not in the case of Visa, which will consider the country to carry out operations exclusively where business is conducted. For example, if a company is registered in England, and the site is operated from the Marshall Islands, then clearing must be carried out in the Marshall Islands. And not in England.
