{"headers":{"Content-Type":"application\/x-www-form-urlencoded"},"body":"source_lang=&target_lang=IT&tag_handling=xml&split_sentences=1&preserve_formatting=1&text=PayPal+CEO%3A+Cryptocurrency+Needs+Regulation+to+Survive&text=PayPal+CEO+Dan+Schulman+believes+that+a+fully+cashless+society+with+cryptocurrency+support+requires+authority+regulation+to+thrive.&text=According+to+PayPal+CEO+Dan+Schulman%2C+the+%3Ca+href%3D%22https%3A%2F%2Fwww.coininsider.com%2Fit%2Fbitcoin-trader%2F%22%3Ecryptocurrency%3C%2Fa%3E+industry+needs+to+work+closely+with+regulatory+authorities+if+it+wants+to+stand+any+chance+of+surviving.%0A%0ASpeaking+at+the+%3Ca+href%3D%22https%3A%2F%2Fwebsummit.com%2Fschedule%2Ftimeslot%2Fthe-cashless-era-in-conversation-with-dan-schulman%22%3EWeb+Summit%3C%2Fa%3E+conference%2C+Schulman+offered+that+the+industry+leaders+and+the+community+need+to+collaborate+with+financial+figures+and+regulation+authorities+if+cryptocurrency+and+blockchain-based+assets+are+to+see+mass-adoption+from+the+public.%0A%3Ch2%3EBitcoin+and+cryptocurrency+survival+needs+foundational+regulatory+compliance%3C%2Fh2%3E%0ADiscussing+a+move+to+a+cashless+system+of+payments+and+a+contact-free+transaction+era+in+the+global+market%2C+the+PayPal+head+spoke+with+Squawk+Box+host+Andrew+Ross+Sorkin%2C+saying%3A%0A%0A%3Cem%3E%E2%80%9CThere+is+only+one+way+to+approach+this%2C+and+that+is+working+hand+in+hand+with+regulators.+Part+of+that+foundational+capabilities+are+regulatory+compliance%2C+full+understanding+of+security%2C+risk+management%2C+all+of+the+financial+controls%2C+FinCEN+controls%2C+AML+controls.+Without+that%2C+you+really+have+no+way+that+you+should+be+in+this+arena.+%5B...%5D+You+must+have+those.%E2%80%9D%3C%2Fem%3E%0A%0AWith+PayPal%27s%27+recent+move+to+launch+%3Ca+href%3D%22https%3A%2F%2Fwww.coininsider.com%2Fit%2Fpiattaforme-di-trading%2F%22%3Ecryptocurrency%3C%2Fa%3E+support%2C+Schulman+has+invested+time%2C+funds%2C+and+energy+into+receiving+regulatory+compliance.+As+the+first+firm+to+get+a+BitLicense+in+New+York%2C+he+suggested+that+any+shift+to+a+cashless+society+needs+to+have+authority+backing+it+for+it+to+be+sustainable.+His+argument+which+might%2C+in+theory%2C+contradict+that+of+Bitcoin%27s+decentralised+nature%2C+is+that+financial+authority+oversight+will+help+protect+users+from+money+laundering+and+illegal+activities.+He+stated%3A%0A%0A%E2%80%9C%3Cem%3EStrong+regulatory+oversight+is+extraordinarily+important%2C+and+I%E2%80%99ve+got+zero+issue+with+that.%3C%2Fem%3E%22%0A%0ASchulman%27s+understanding+is+that+although+Bitcoin+and+cryptocurrencies+have+been+designed+to+avoid+governmental+interference%2C+having+financial+oversight+from+regulations+will+offer+more+peace+of+mind+from+investors+which+will+lead+to+adoption.+With+more+go-ahead+from+regulatory+figures%2C+cautious+investors+might+be+more+likely+to+buy+into+the+world+of+blockchain+currencies%2C+which+could+lead+to+an+overall+shift+from+a+cash-based+market.","timeout":15}