YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
No Result
View All Result

Crypto community says new PayPal policy would drive crypto adoption

October 9, 2022
in Altcoins
Reading Time: 3 mins read
A A
Crypto community says new PayPal policy would drive crypto adoption
ShareShareShareShareShare

Twitter’s crypto community has argued that PayPal’s now-canceled misinformation policy could drive more people toward crypto adoption.

The policy

The policy would have allowed the payments company to sanction users for misinformation by fining them up to $2,500.

The firm had stated that its list of prohibited activities included “the sending, posting, or publication of any messages, content, or materials” that “promote misinformation” or “present a risk to user safety or wellbeing.”

PayPal continued that it would independently review each offense, and the user may be liable for up to $2,500 in damages for each violation. In addition, only actions on the PayPal platform would be subject to the policy.

The firm, however, was forced to backtrack on the decision after it drew the ire of its users and major stakeholders, including Elon Musk.

Agreed

— Elon Musk (@elonmusk) October 8, 2022

The company’s spokesperson reportedly said:

“PayPal is not fining people for misinformation, and this language was never intended to be inserted in our policy. We’re sorry for the confusion this has caused.”

Crypto community calls for crypto adoption

Those in the crypto community have argued that this move could be the catalyst that drives more people into the industry.

Santiago Santos, the host of the crypto podcast Empire, tweeted, “PayPal censoring speech and blocking payments is the best thing that has happened for the adoption of crypto payments with stablecoins. At this rate, web3 adoption will happen more because of the reckless actions of web2 companies.”

Businesses like PayPal freezing funds for user thought crimes is the final frontier in the fight for free speech.

And it absolutely vindicates what us crypto nerds have been screaming about for the last several years.

— ₿ully (@BullyEsq) October 8, 2022

Others also agreed with this view, with the president of Bianco Research, Jim Bianco saying that “crypto fixes this.”

Meanwhile, James Lavish added that this shows what to expect with CBDCs. “You think PayPal is bad. Wait until you see what they can do with CBDCs,” he said.

However, not everyone believes that crypto exactly fixes censorship. Some clarified that only Bitcoin (BTC) is above censorship, and every other token is mostly centralized and prone to censorship.

Crypto? U mean bitcoin

— Jerrick Naylor (@JerrickNaylor) October 8, 2022

They gave examples of the recent halt of the BNB Chain, the freezing of crypto assets during the Freedom Convoy protest in Canada, and the US OFAC decision to sanction Tornado Cash.

Tell that to the Canadians’ whose crypto wallets were frozen for wrongthink.

— John Connor (@JohnCon89879921) October 8, 2022

Get an Edge on the Crypto Market 👇

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits


Credit: Source link

You might also like

Sam Bankman-Fried denies he tried to sway witness, awaits possible contact restrictions

Sam Bankman-Fried denies he tried to sway witness, awaits possible contact restrictions

January 28, 2023
How crypto turned Portugal into a promised land for entrepreneurs

How crypto turned Portugal into a promised land for entrepreneurs

January 28, 2023

Related Stories

Sam Bankman-Fried denies he tried to sway witness, awaits possible contact restrictions
Altcoins

Sam Bankman-Fried denies he tried to sway witness, awaits possible contact restrictions

January 28, 2023
How crypto turned Portugal into a promised land for entrepreneurs
Altcoins

How crypto turned Portugal into a promised land for entrepreneurs

January 28, 2023
Token unlocks: short-term volatility brings long-term growth
Altcoins

Token unlocks: short-term volatility brings long-term growth

January 28, 2023
Binance is still operating normally despite months of FUD
Altcoins

Binance is still operating normally despite months of FUD

January 28, 2023
Next Post
Best crypto to invest in right now – TAMA, IMPT, XRP, DOGE, and others

Best crypto to invest in right now - TAMA, IMPT, XRP, DOGE, and others

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Gemini Gains Crypto Licenses in Italy and Greece

Third Time’s the Charm? Gemini Cuts Jubs Once Again

January 24, 2023
Crypto scams shake down southwest Saskatchewan – SwiftCurrentOnline.com

Crypto scams shake down southwest Saskatchewan – SwiftCurrentOnline.com

January 25, 2023

Popular Story

    • Contact Us
    • Privacy Policy
    • Terms of Use
    • DMCA

    © 2021 - YourCryptoNews.net - All rights reserved!

    No Result
    View All Result
    • Live Prices
    • Crypto News
      • Altcoins
      • Bitcoin
    • Defi News
    • NFT News
    • Blockchain
    • Regulations
    • Trading
    • Scams

    © 2021 - YourCryptoNews.net - All rights reserved!

    • bitcoinBitcoin (BTC) $ 23,001.00 0.27%
    • ethereumEthereum (ETH) $ 1,569.84 1.74%
    • tetherTether (USDT) $ 1.00 0.03%
    • usd-coinUSD Coin (USDC) $ 1.00 0.07%
    • bnbBNB (BNB) $ 305.23 0.88%
    • xrpXRP (XRP) $ 0.408988 1.02%
    • binance-usdBinance USD (BUSD) $ 1.00 0.03%
    • cardanoCardano (ADA) $ 0.381679 1.9%
    • dogecoinDogecoin (DOGE) $ 0.087813 0.84%
    • matic-networkPolygon (MATIC) $ 1.14 1.59%
    • okbOKB (OKB) $ 39.22 7.9%
    • solanaSolana (SOL) $ 23.88 1.48%
    • staked-etherLido Staked Ether (STETH) $ 1,567.83 1.63%
    • polkadotPolkadot (DOT) $ 6.37 2.72%
    • shiba-inuShiba Inu (SHIB) $ 0.000012 0.41%
    • avalanche-2Avalanche (AVAX) $ 20.64 2.96%
    • litecoinLitecoin (LTC) $ 89.07 0.17%
    • tronTRON (TRX) $ 0.063145 0.41%
    • daiDai (DAI) $ 1.00 0.07%
    • uniswapUniswap (UNI) $ 6.60 3.66%
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 22,989.00 0.05%
    • cosmosCosmos Hub (ATOM) $ 13.13 1.92%
    • the-open-networkToncoin (TON) $ 2.50 1.61%
    • chainlinkChainlink (LINK) $ 7.19 2.26%
    • leo-tokenLEO Token (LEO) $ 3.78 1.59%
    • moneroMonero (XMR) $ 185.12 2.97%
    • ethereum-classicEthereum Classic (ETC) $ 21.67 1.26%
    • aptosAptos (APT) $ 17.85 0.48%
    • bitcoin-cashBitcoin Cash (BCH) $ 131.56 2.18%
    • stellarStellar (XLM) $ 0.092867 0.2%
    • apecoinApeCoin (APE) $ 5.99 5.28%
    • quant-networkQuant (QNT) $ 149.42 1.8%
    • nearNEAR Protocol (NEAR) $ 2.46 4.14%
    • crypto-com-chainCronos (CRO) $ 0.081154 0.89%
    • filecoinFilecoin (FIL) $ 5.24 2.71%
    • lido-daoLido DAO (LDO) $ 2.23 7.42%
    • algorandAlgorand (ALGO) $ 0.255925 1.01%
    • vechainVeChain (VET) $ 0.024130 2.82%
    • internet-computerInternet Computer (ICP) $ 6.01 0.38%
    • hedera-hashgraphHedera (HBAR) $ 0.066969 4.02%
    • axie-infinityAxie Infinity (AXS) $ 11.35 1.3%
    • decentralandDecentraland (MANA) $ 0.690141 1.3%
    • aaveAave (AAVE) $ 83.80 3.83%
    • eosEOS (EOS) $ 1.09 1.96%
    • the-sandboxThe Sandbox (SAND) $ 0.738403 0.5%
    • fantomFantom (FTM) $ 0.444810 5.21%
    • elrond-erd-2MultiversX (EGLD) $ 44.44 0.38%
    • flowFlow (FLOW) $ 1.05 2.44%
    • theta-tokenTheta Network (THETA) $ 1.07 4.53%
    • terra-lunaTerra Luna Classic (LUNC) $ 0.000173 0.51%