PayPal Weighs in on Potential Bitcoin Currency Regulations
As previously reported on CCN, PayPal has taken steps forward to endorse Bitcoin as a form of online payments, and the integration of Bitcoin into PayPal's payments services is going forward. Since PayPal and Bitcoin are global services, how Bitcoin is treated internationally is of great import to PayPal. Australia has a love-hate relationship going with Bitcoin at this very moment, and government officials seem somewhat confused on how to handle the most sophisticated form of funds transfer extant. The Australian Senate is still looking at Bitcoin, and many with a vested interest have....
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eBay chief executive John Donahoe has confirmed the e-commerce giant is looking at ways to integrate bitcoins into its PayPal payments network. "It's a new disruptive technology, so, yeah, we're looking at bitcoin closely," Donahoe said in an interview with the Wall Street Journal. "There may be ways to enable it inside PayPal." eBay hasn't yet made any commitments to use the currency, Donahoe added, comparing the digital currency to early music sharing sites such as Napster. "Virtual currency is something that's here to stay," he said. Last week, PayPal president David Marcus said he was....
PayPal has some interesting feelings towards bitcoin. Apparently, while the currency itself shouldn't be up for regulation, businesses that deal in it should. The company made a submission to the Australian Senate committee investigating the regulation of digital currencies that calls for the recognition of differences between digital currencies, and the companies that facilitate digital currency transactions. PayPal's submission states: "While the currency itself should not be regulated, and transactions by individual users without the assistance of the intermediaries should not be....
The idea of creating a new currency outside of national systems is not new or original. There have been electronic cash attempts that have dated back to the 1980's in the U. S., and PayPal was created to be a new online currency. The timing was perfect, as regulations were light for online businesses back then, as the Internet was only ten years old, and regulators were still several years behind the curve. Now, Bitcoin has succeeded in making a new global online currency anyone can use for free, and Peter Thiel has some commentary on its progress. PayPal founder talks about Bitcoin.....
PayPal, one of the world’s leading online payment services, is making some very awkward decisions as of late. Ever since the payment processor separated from parent company eBay, PayPal has been announcing dubious changes. The latest of those changes focuses on Taiwan, where PayPal users will not be able to use a Taiwanese account to send funds to other Taiwanese Paypal users. Starting on September 21st. 2015, Taiwanese Paypal users will be facing a drastic change in the way they send and receive money online. According to a recent Paypal announcement, the company will prohibit domestic....
After reaching $20 Billion in mobile transactions, PayPal President appeared on Bloomberg TV's "The Pulse," with Guy Johnson to discuss mobile security and share his thoughts on the Bitcoin currency. This morning, PayPal President, David Marcus, expressed his fascination with Bitcoin and opened the door to a potential implementation of the up in coming online currency. As PayPal strives to remain the leader in innovative and convenient ordering and payment processing for individuals and merchants, we are prompted to wonder whether such a hunger for leadership and ingenuity will prompt....