Paxful, the leading peer-to-peer (P2P) cryptocurrency platform based in Africa, announced that it is suspending its services due to various operational difficulties.
Paxful April 4 In a statement published on its official website on has suspended and on whether to restart they are not sure stated.
CEO Ray Youssef In the statement written by main reasons aspect separation of key personnel and getting tighter regulatory framework shown. The CEO is also one of the founding partners in a program he participated in. by Arthur Scaback due to the lawsuit filed against the platform protection of client funds about to worries have and all of senior staff from the platform have been removed expressed.
Moreover compatibility also referring to Youssef, your platform ultimate compatibility standards to ensure do your best for what you did but efforts by US regulators being ignored suggested.
CEO, under current conditions why can’t they go on anymore summed up in the following words:
It would be an option if we had enough personnel to continue our operations by blocking our US customers. But it doesn’t make sense from a business model standpoint.
In the statement, all assets accounted for their assets from users by specifying shrink requested.
New Platform Suggestion to Customers
The platform itself flooded burying Youssef, outside the USA Another focus on serving users P2P with platform Noones alternative showed as.
Can be done on Paxful of everything also in Noones can be done Expressing that, the CEO said that the platform he proposed is more low transaction fees, even more than their own platform generous affiliate programs, productive One user identification process (KYC) He said he has.
On the other hand, in order to protect customers’ funds, Bitcoin (BTC) payment company bitnob, Exodus Wallet And Muun Wallet da Youssef recommended platforms was among.
Known for its meticulousness about reliability in the cryptocurrency ecosystem Youssef, in last december Ethereum (ETH) from the proof of work system (PoW) proof-of-stake system (PoS) transition of cryptocurrencies democratic air of sabotage Ethereum on the platform, stating that had withdrawn his support.