{"id":5496,"date":"2023-05-11T17:49:36","date_gmt":"2023-05-11T14:49:36","guid":{"rendered":"https:\/\/igamingafrika.com\/?p=5496"},"modified":"2023-05-11T17:49:36","modified_gmt":"2023-05-11T14:49:36","slug":"paxful-a-cryptocurrency-marketplace-resumes-p2p-operations-after-a-hold","status":"publish","type":"post","link":"https:\/\/igamingeuropa.com\/index.php\/2023\/05\/11\/paxful-a-cryptocurrency-marketplace-resumes-p2p-operations-after-a-hold\/","title":{"rendered":"Paxful, a cryptocurrency marketplace, resumes p2p\u00a0operations after a hold"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Paxful resumes p2p Operations<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><em><strong><a rel=\"noreferrer noopener\" href=\"https:\/\/paxful.com\/\" target=\"_blank\">Paxful<\/a>, a peer-to-peer (P2P) Bitcoin (BTC) trading platform, declared it resumes operations after suspending p2p&nbsp;market operations as a result of major personnel departures and regulatory challenges.<\/strong><\/em><\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><em>After a month away, we\u2019re happy to announce that the Paxful marketplace is back online,\u201d<\/em>&nbsp;the firm wrote, noting that it took the decision to temporarily suspend its platform last month in order&nbsp;<em>\u201cto protect all of our customers and Paxful\u2019s future.<\/em> <em>Over the last month, our team has worked diligently to get the marketplace back online with the safety and security of users paramount<\/em>. <\/p>\n<cite>Paxful said.<\/cite><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Ray&nbsp;Youssef,&nbsp;the&nbsp;cofounder,&nbsp;and&nbsp;CEO&nbsp;of&nbsp;Paxful,&nbsp;stated&nbsp;that&nbsp;the&nbsp;decision&nbsp;to&nbsp;halt&nbsp;operations&nbsp;in&nbsp;April&nbsp;2023&nbsp;was&nbsp;brought&nbsp;on&nbsp;by&nbsp;regulatory&nbsp;difficulties&nbsp;in&nbsp;the&nbsp;United&nbsp;States.&nbsp;He&nbsp;added&nbsp;that&nbsp;all&nbsp;customer&nbsp;funds&nbsp;were&nbsp;safe&nbsp;and&nbsp;accounted&nbsp;for&nbsp;and&nbsp;urged&nbsp;users&nbsp;to&nbsp;withdraw&nbsp;their&nbsp;money&nbsp;and&nbsp;think&nbsp;about&nbsp;self-custody.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><em>Regulatory challenges for the industry continue to grow, especially in the peer-to-peer market and most heavily in the U.S. While we work through these issues, we have taken the most secure option and ask you to explore self-custody and trade elsewhere<\/em>.&nbsp;<\/p>\n<cite>Youssef said.<\/cite><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read Also:<\/strong> <strong><a href=\"https:\/\/igamingafrika.com\/crypto-news-africa\/cryptocurrencies-exchange-platforms-in-africa\/\" target=\"_blank\" rel=\"noreferrer noopener\">Crypto Currency Exchanges Used in Africa <\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The suspension, though, also happened to coincide with Co-Founder Artur Schaback&#8217;s lawsuit against Youssef and the company for, among other things, wrongful termination. Shaback reportedly wants to leave the company and is negotiating a settlement. He has claimed that, in addition to him and Youssef, Paxful is currently owned by a custodian who also acts as a director.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><em>Right now we need the custodian because he\u2019s a tiebreaker; otherwise we\u2019re in a deadlock<\/em>. &nbsp;<\/p>\n<cite>Schabeck said.<\/cite><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">When he requested that consumers take into account Noones, a brand-new peer-to-peer (P2P) business that specializes in the Global South, Youssef also seemed to be promoting a new business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A white paper detailing the Civ Kit, a system created to create a peer-to-peer (P2P) electronic market that is censorship-resistant and permissionless, was published later in April 2023 by Youssef and two other Bitcoin &#8220;pioneers,&#8221; Antoine Riard and Nicholas Gregory.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Civ Kit is a design guide for programmers and business owners who want to create their own censorship-resistant, permissionless global marketplace.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the press release, borrowing and lending will be added by using a universal credit score for all traders that is calculated by a combination of trade success (Web-of-Stakes and Web-of-Trust techniques) and Web-of-Trust techniques that act as a &#8220;trustless source of truth.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The trio is attempting to combine Noones with the new system.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Follow us on <a href=\"https:\/\/twitter.com\/igamingafrika\/\" target=\"_blank\" rel=\"noreferrer noopener\">Twitter<\/a> for the latest updates from the gaming space in Africa. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Paxful resumes p2p Operations Paxful, a peer-to-peer (P2P) Bitcoin (BTC) trading platform, declared it resumes operations after suspending p2p&nbsp;market operations as a result of major personnel departures and regulatory challenges. After a month away, we\u2019re happy to announce that the Paxful marketplace is back online,\u201d&nbsp;the firm wrote, noting that it took the decision to temporarily &hellip;<\/p>\n","protected":false},"author":2,"featured_media":5644,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[61],"tags":[60,62,63],"class_list":["post-5496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news-europe","tag-crypto","tag-p2p","tag-paxful"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Paxful Exchange Resumes P2P Operations - iGmaing Europa<\/title>\n<meta name=\"description\" content=\"Paxful Exchange, a peer-to-peer P2P Bitcoin BTC trading platform, resumes operations after suspending p2p\u00a0market operations.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/igamingeuropa.com\/index.php\/2023\/05\/11\/paxful-a-cryptocurrency-marketplace-resumes-p2p-operations-after-a-hold\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Paxful Exchange Resumes P2P Operations - 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