From my point of view it looks like the breach of rules was solely on the end of WaveCrest.
They broke the rules, it's clear. Mastercard is also stopping the collaboration with Wavecrest.
While VISA was unprofessional enough to do this overnight, at least Mastercard allows about a month period to get the funds from the cards sorted out (spent or whatever).
AdvCash and XMLgold.eu already announced about this.
While US cards works, while Mistertango works, while all tell they are in discussions with other card providers (and other solutions too), I also believe that it's not actual hostility against Bitcoin, it was something Wavecrest did terribly wrong. And I think that future providers will be extra careful to avoid this situation.
Maybe, but Visa cut off Wavecrest cards outside the Eurozone months before it acted there. That was the initial puzzle for me.
Interesting idea. Maybe Wavecrest sold cards in areas they were not allowed by VISA/MC (?!) and that was the beginning of the end.