What are the merchant category codes for cryptocurrency businesses?

3 answers

• P1ZDATMar 14, 2024 · a year ago
  Sure! Here are some commonly used merchant category codes (MCC) for cryptocurrency businesses: 1. 6051 - Non-Financial Institutions - Foreign Currency, Money Orders (not wire transfer), Travelers Cheques 2. 6052 - Non-Financial Institutions - Manual Cash Disbursements 3. 6057 - Non-Financial Institutions - Automated Cash Disbursements 4. 6059 - Non-Financial Institutions - Quasi Cash These MCCs are often used by cryptocurrency exchanges, wallets, and other related businesses to categorize their transactions. It's important to note that the specific MCCs used may vary depending on the payment processor or financial institution. Hope this helps!
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• Muhdar MuhdarAug 22, 2023 · 2 years ago
  Absolutely! Here are some merchant category codes (MCC) commonly associated with cryptocurrency businesses: 1. 6051 - Non-Financial Institutions - Foreign Currency, Money Orders (not wire transfer), Travelers Cheques 2. 6052 - Non-Financial Institutions - Manual Cash Disbursements 3. 6057 - Non-Financial Institutions - Automated Cash Disbursements 4. 6059 - Non-Financial Institutions - Quasi Cash These MCCs are used to classify transactions and help financial institutions and payment processors identify the nature of the business. I hope this information is helpful!
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• Leander Plumbing CompanyJun 03, 2023 · 2 years ago
  Sure thing! Here are some commonly used merchant category codes (MCC) for cryptocurrency businesses: 1. 6051 - Non-Financial Institutions - Foreign Currency, Money Orders (not wire transfer), Travelers Cheques 2. 6052 - Non-Financial Institutions - Manual Cash Disbursements 3. 6057 - Non-Financial Institutions - Automated Cash Disbursements 4. 6059 - Non-Financial Institutions - Quasi Cash These MCCs are used by payment processors and financial institutions to categorize transactions related to cryptocurrency businesses. It's important for businesses in the cryptocurrency industry to use the appropriate MCCs to ensure accurate classification of their transactions. I hope this helps! If you have any more questions, feel free to ask.
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