Card companies such as MasterCard, Visa, and PayPal are jumping into virtual asset transaction infrastructure services one after another, going beyond allowing virtual asset transactions and payments.

France, which wants to become the European Union’s virtual asset hub, has declared that it will review its virtual asset tax regulations next year. The French government has suggested that the virtual asset tax regulation goes beyond simply copying the existing securities transaction tax.

MasterCard Reveals Virtual Asset Safety Service

MasterCard unveiled an infrastructure service plan to help financial companies such as banks make virtual asset transactions.

According to Barron on the 17th (local time), MasterCard announced a plan to test-run a service called CryptoSource, which provides related infrastructure to banks and other financial institutions to make it easier for virtual asset traders to purchase, sell and hold virtual assets.

“Crypt Source” comes weeks after MasterCard launched the “Crypto Secure” service, a software service that allows banks to check and potentially block customers’ virtual asset purchases on virtual asset exchanges linked to hackers.

MasterCard explains that “Crypto Secure,” which is needed to operate the “Crypt Source” service, uses blockchain data to show banks where cardholders buy virtual assets. Ajay Bala, president of Cyber and Intelligence at MasterCard, said, “What we announced today is a service that helps lead virtual asset traders safely into the virtual asset ecosystem.”

Meanwhile, MasterCard hired more than 500 people to strengthen its related sectors earlier this year to expand consulting services covering open banking such as virtual assets