“We pay a processing fee for credit cards, and we employ about 40 people in our fraud department. That’s a cost of doing business with credit cards,” he said, adding:
“When we take cryptocurrency, we have a very small transaction fee with Coinbase, much smaller than our credit card processing fee, and we have no fraud prevention department. It’s like a cash transaction. For us, that is a much cheaper way of doing business.
Ex-Overstock Chairman Committed To Crypto Despite Market Woes, Calls For U.S. Regulatory Clarity
Speaking at the Heritage Foundation, Jonathan Johnson, former chairman of Overstock.com and current president of Medici Ventures, doubled-down on his companies' commitment to blockchain and cryptocurrencies while issuing a call for more regulatory clarity on coin offerings from Congress and the SEC
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