PayPal is working on the development of services related to the world of cryptocurrencies: it is not an indiscretion like the one circulated last month, and of which we have already spoken (LINK HERE), but a confirmation that comes directly from the company albeit in a letter that dates back to last March and that comes to light only in these days.
It is a letter that the company sent to the European Commission in response to the public debate, raised by the Commission itself, to collect opinions and considerations in order to build a regulatory framework around the world of crypto-activities.
In the letter PayPal expresses absolute positivity towards the creation of this framework, arguing that blockchain and crypto-assets could help achieve "greater financial inclusion by helping to reduce or eliminate some of the weaknesses existing today in financial services".
PayPal hopes that the Commission will establish a set of clear definitions so that it is possible to guarantee adequate protection for consumers and investors, also suggesting that crypto-activities be included in the applicable anti-money laundering rules.
"Since these technologies are constantly evolving, we believe that appropriate regulation that promotes innovation and clarity can help the sector to grow and thrive. [...] Any regulatory framework in Europe should strive to be technologically neutral for supporting innovation and competition in this rapidly changing space "
reads the letter.
The most interesting part of the letter, however, is found in closing with PayPal which underlines that he was a founding member of the Facebook Libra project before retiring in October 2019 after taking "unilateral and tangible measures to further develop the skills in this sector. ".
PayPal has been already since 2014 that somehow observes the world of cryptocurrencies very closely, collaborating with various realities (among which the best known is Coinbase) to allow merchants on its network to accept payments in Bitcoin.
It therefore seems that the time has come for the company to offer cryptocurrency buying and selling services and perhaps new more capillary and innovative payment services, thus pushing the adoption and use of digital coins even among the wider public.
As usual, thank you if you have come this far, I wish you a good day and see you soon!
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