Electronic Transactions Association CEO Expecting More Partnerships with Bitcoin Startups
ETA CEO Jason Oxman said traditional payment companies are becoming more open to Bitcoin and other emerging technologies, especially when merchants and consumers demand them. The ETA, which includes major firms like Visa, MasterCard, Amazon, and PayPal, recently admitted BitPay as its first virtual currency member, signaling potential partnerships between established payment networks and Bitcoin startups. Oxman emphasized that ETA is not promoting Bitcoin over other payment methods, but supports all electronic transactions and will engage with innovation rather than ignore it. He said the Bitcoin Foundation helped educate ETA members about Bitcoin’s business value, making it more credible to the industry. On regulation, Oxman argued that New York’s BitLicense proposal should be based on deeper study of how Bitcoin and blockchain work, rather than reflexive rules. He acknowledged regulators’ consumer-protection concerns but said they should consider safeguards already used by Bitcoin processors. New York DFS later extended the public comment period on BitLicense by 45 days.
