The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
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.

“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.

“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


 
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

Industry Announcements

  • Addressable Raises $7.5 Million To Enable Web 3.0 Companies To Acquire Users at Scale
    January 31, 2023
  • SIMBA Chain Awarded $30 Million US Air Force STRATFI
    January 31, 2023
  • Bunzz Raises $4.5 Million Seed Round To Expand Its Smart Contract Hub for DApp Development
    January 24, 2023
  • Dogecoin and Shiba Inu Better Watch Out – Floki Just Had Three Big Things Happen for It
    January 24, 2023
  • Crypto Marketing – What Initiatives Will Bring More Value and Users in 2023
    January 23, 2023
  • Make Crypto Payments on BChat Web 3.0 Messenger – BChat Integrates Beldex Wallet
    January 22, 2023
  • KEY3.id Supports Multi-Chain Transaction, Partnership With KuCoin Wallet, CoinHub Wallet and Wallet3 To Launch 2023 Lucky Transaction Campaign With Over 30,000 Participants on Social
    January 20, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,146.20
$23,146.20
1.55%
Ethereum
$1,585.16
$1,585.16
1.19%
Cardano
$0.390903
$0.390903
5.09%
XRP
$0.407688
$0.407688
3.16%
Dogecoin
$0.095655
$0.095655
8.64%

Spotlight

  • ARK Invest Predicts Market Rebound, Says Crypto Assets To Become Valued for Scarcity in Age of Abundance
    January 25, 2023
  • Two Under-the-Radar Altcoins Continue To Skyrocket This Week Amid Official Coinbase Trading Rollout
    January 27, 2023
  • Layer-1 Blockchain Explodes 150% As Chinese Social Media Giant Integrates Crypto Platform
    January 31, 2023
  • Largest Crypto Wallets To Support Major Shiba Inu (SHIB) Upgrade As Dogecoin Rival Holds 70% Gains Year-to-Date
    January 26, 2023
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.
Featured Image: Shutterstock/Billion Photos

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 •
Futuremash •
Industry Announcements

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

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl