helps lenders to understand if their customers' crypto purchases are dangerous
This looks foolish to me. As it is now well known that the entire crypto world is a huge mess of dangerous risk, rating a crypto as "not dangerous" could leave Mastercard with big liability problems when one of them inevitably crashes.
What I don't understand is why boardrooms of huge companies like this still consider it worth getting involved when they know it's all bullshit, just so they don't miss out on temporarily profiting from a worthless scheme. They should have learnt the lesson from sub-prime mortgages, but obviously what they really learnt was "if it all goes horribly wrong we'll get bailed out again because we're so essential". This is why regulation is necessary and regulators should be stopping this sort of thing from happening, but even people at that level seem to be so dazzled by the free magic money that they can't see the obvious stupidity of it.
Biting the hand that feeds IT
