Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Banks That Don’t Enter Bitcoin and Crypto Industry Will Be Left in the Dust, Says Paxful CEO Ray Youssef

by Daily Hodl Staff
November 5, 2020
in Futuremash
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

Paxful CEO and co-founder Ray Youssef says banks will have to support cryptocurrency if they want to remain relevant in the new economy.

In an interview with The Cryptonomist, Ray Youssef says PayPal is doing the right thing by adopting Bitcoin (BTC) and that banks and other digital wallets better get in before it’s too late.

ADVERTISEMENT

“I think every bank and wallet in the world will have no choice but to enter crypto. Because if they don’t enter, crypto is entering their space and it’s going to leave them in the dust. So, the smart ones are getting in early. The small ones have already gotten in. And as far as PayPal doing this, I think it’s good.”

According to Youssef, PayPal and the entire crypto industry could do a lot more to innovate if authorities provide more regulatory guidance.

“That’s all people want is clarity. I think PayPal, there’s a lot more they could do… There’s a lack of clarity. There’s some regulation like the BitLicense, which you know could have been a lot better. It could have fostered a lot more innovation. But what we’re seeing is that the regulators are now only just starting to figure things out. It’s taking them some time, naturally.

It’s new technology and it’s our job to work with them, to help them understand what’s happening in this entire space so they can come out with some legislation that actually does protect the people, while at the same time allowing innovations to continue.”

In addition, Youssef believes PayPal could help the crypto industry more if they opened up their network to external Bitcoin transactions.

ADVERTISEMENT

“If PayPal really wants to help crypto rather than just help themselves, what they should do is allow people who have PayPal accounts to transact with crypto OTC, outside of PayPal. As long as it’s a legitimate transaction, why not?

In the past, PayPal would shut down accounts for anyone trading PayPal for Bitcoin, and that’s accepting on your platform but still cracking down on legitimate, honest OTC trades. That doesn’t show good faith. If they want to help the industry, they’ll open up their network to that and they’ll make a process whereby people can declare they’re doing that and it’s all kosher.”

l



Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Javier Cruz Acosta

Submit a Press Release

Crypto Livewire – Press Releases

  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$49,018.00
$49,018.00
4.97%
Ethereum
$1,550.86
$1,550.86
3.64%
Binance Coin
$241.54
$241.54
5.07%
Polkadot
$36.23
$36.23
5.54%
Cardano
$1.20
$1.20
4.91%
XRP
$0.452578
$0.452578
0.59%
ADVERTISEMENT

Spotlight

  • Confusion Over Billion-Dollar Whale Transfer May Have Triggered Crypto Crash, According to On-Chain Analyst Willy Woo
    February 25, 2021
  • This Highly Misunderstood Altcoin Is Set To Explode, Says Crypto Trader Tyler Swope
    March 1, 2021
  • $630,000,000 in Bitcoin Just Left Coinbase, According to CryptoQuant
    February 26, 2021
  • Google Spotlights Bitcoin, Ethereum and Litecoin in New Finance Crypto Section
    March 2, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.