The CEO of DraftKings says he’s looked into adding crypto as a form of payment, but regulations are preventing it

SourceBusiness Insider
SectorEconomy
CountryMiddle east

CEO Jason Robins said he has looked into adding cryptocurrencies as a form of payment for his online sports betting company but admitted that the current regulations prevented him from pursuing the matter further. “The payment methods we can accept are determined by the individual state regulators and, as of now, crypto is not an approved payment type in any of the states where we’re live,” Robins said during a live town hall hosted by stock trading app Public Wednesday. The chief executive added that cryptocurrencies will “likely transform some entire industries and portions of others.” Cryptocurrency regulation – or a lack of – has been in the spotlight recently.

On Tuesday, the to give the agency more authority and funding to regulate the rapidly evolving industry. Yet, some, such as SEC Commissioner Hester Pierce, have warned that . Currently, DraftKing operations vary per state depending on the service. It will likely be the same case for when it accepts...read more...