Stripe to Ditch Bitcoin Payment Support

"Stripe, the firm which helps more than 100,000 businesses do financial transactions online, is to scrap support for Bitcoin payments. It said Bitcoin users now saw the virtual currency largely as an "asset" to be traded, rather than something to make payments with. Fewer online merchants wanted to accept the cryptocurrency, it added.Rising fees and longer transaction times as a result of price fluctuations also lessened its appeal, Stripe said".

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In summary, cryptocurrencies are still evolving, with volatile ones like bitcoin having more in common with some high risk traded assets rather than as a useful payment tool or currency. For you and me, this means buyers beware. For Regulators, this means, rules and governance must cover both the cryptocurrency and the assets sides, to ensure proper safeguards are in place.