ProtonMail, an end-to-end encrypted email service, is debating on whether it should continue holding bitcoin (EXANTE: Bitcoin) on its balance sheet.
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In an interview with Forbes, Proton CEO, Andy Yen, said that the industry is full of "fraud and abuse" and other "incredulous things." He added:
"Especially when you look at things like NFTs and some of the other things that happened at the tail end of let's say, the recent bubble, right? There's just too much fraud and too much icky stuff in the space."
Yen also pointed out that Web3 still remains a "highly unregulated space," and the absence of regulations allows scammers to capitalize on that. He said the company might one day start accepting Bitcoin Lightning Network, adding it's "simply a matter of time." ProtonMail started accepting bitcoin in 2017.
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