PayPal halting UK cryptocurrency purchases

PayPal halting UK cryptocurrency purchases
ôîòî ïîêàçàíî ñ : invezz.com

2023-8-17 14:54

With an anticipated return in early 2024, PayPal (NASDAQ: PYPL) has announced that it will temporarily halt crypto purchasing services in the UK starting on October 1, 2023.

The move was made in response to new regulatory demands made by the UK Financial Conduct Authority (FCA), as explained in an email sent to a limited group of users on August 14.

Users can, however, still hold and sell their bitcoins at this time, even if purchasing cryptocurrency will not be possible. PayPal has not specified if customers can move cryptocurrency between wallets or exchanges, a function that now appears to be available only to US consumers.

Complying with the new UK regulations

In a notice sent by PayPal, the payment services provider said that it decided to stop its buying services as it works to adhere to new rules put forward by the UK FCA. Though specifics of the restrictions have not been made public, the corporation will be obliged to “implement additional steps before customers can purchase crypto.”

“Pausing” pic.twitter.com/ink9kIHAnn

— Things Sam is Freaking Out About (@Bitfinexed) August 15, 2023

In September 2023, the UK will begin enforcing a Crypto Travel Rule that requires cryptocurrency companies to compile data on transaction parties. In addition, new advertising and promotion regulations for cryptocurrencies will go into effect in October. However, neither regulation appears to be in line with PayPal’s claimed justifications for the service modification.

The post PayPal halting UK cryptocurrency purchases appeared first on Invezz.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Global Cryptocurrency (GCC) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 0.0034358 (-100%)

paypal cryptocurrency halting made purchases demands financial

Èñòî÷íèê: invezz.com

paypal cryptocurrency → Ðåçóëüòàòîâ: 126


Ôîòî:

PayPal Cautiously Believes in Libra’s Potential Despite Regulatory Concerns 

Paypal, an American centralized payments services company has made it clear that it firmly believes in the potential of the social media giant’s global cryptocurrency project despite the intense scrutiny of governments and central banks on Libra, as well as the regulatory bottlenecks surrounding the cryptoasset, according to a Channelnewsasia report on September 14, 2019.

2019-9-16 12:20


PayPal is reportedly wary of Libra’s future

International news agency Agence France-Presse (AFP) has reported that PayPal is being quite cautious regarding the future of Facebook’s proposed cryptocurrency project, Libra. On the company signing on to the Libra Association, Gabrielle Rabinovitch, Investor Relations VP, PayPal, said: “It’s a non-binding commitment, and obviously, I think there’s a lot of work to happen before […] The post PayPal is reportedly wary of Libra’s future appeared first on AMBCrypto.

2019-9-14 12:00


Bitmex CEO: Libra Will Destroy Traditional Commercial Banks And PayPal Is Screwed Anyway

Reactions have continued to trail Facebook’s official announcement of its own digital asset called the Libra and its governing body, The Libra Association. Since the announcement was made and its whitepaper released, reactions have been mostly mixed with some applauding the move as a huge win for the cryptocurrency sector because a giant player like […]

2019-7-11 17:24


Best of Bitcoin & Tether Combined? 10 Libra Whitepaper Takeaways

Facebook’s Libra cryptocurrency whitepaper dropped this week, sending shockwaves through the Bitcoin and altcoin community. Is Libra the thing that pulls blockchain kicking and screaming into the mainstream, for the benefit of one and all? Or is it the final nail in the coffin of a cryptocurrency experiment just a decade old? Here are 10 key takeaways from the newly released Libra whitepaper.

2019-6-24 02:45


Facebook signs major partners for its cryptocurrency network and it still sounds terrible

Facebook has begun assembling a who’s who of big tech companies to back its soon to be unveiled cryptocurrency, GlobalCoin. The likes of Mastercard, Visa, Uber, and PayPal are all backing the social media giant’s upcoming digital coin due to be unveiled later this month, and officially rolled out next year, reports The Wall St Journal.

2019-6-14 11:49


Ripple is More Like Paypal Than Bitcoin, It’s Not Decentralized and Should Not Be Compared to BTC

Ripple has been doing a lot in recent times, to promote XRP and also put themselves in position to increase global cryptocurrency adoption and xRapid, is one of the ways the firm is doing this. XRP, the third largest cryptocurrency by market cap, created by Ripple, is the bedrock of most of their solutions, as […]

2019-5-28 02:00


PayPal Says It’s a ‘Little Early’ To Embrace Bitcoin (With Its 125,000% Gains)

PayPal CFO John Rainey says it is “too early” for the company to invest in Bitcoin – despite the fact the cryptocurrency has appreciated 125,000 percent in 7 years. PayPal: We Love Blockchain Speaking in an interview with Yahoo! Finance this week, John Rainey said that the merchant experience of accepting Bitcoin payments was suboptimal due to market volatility.

2019-5-11 20:00


Facebook’s Secret Cryptocurrency Led by PayPal Alumni Just ‘Months Away’ from India Launch

By CCN: Facebook’s much-hyped cryptocurrency project, dubbed Project Libra, may launch in India within a matter of months, according to a Bloomberg report. The secretive blockchain project, led by a team of PayPal alumni, is expected to launch a stablecoin for sending peer-to-peer payments to friends and family as well as integrating with major e-commerce players.

2019-5-9 12:49


Ôîòî:

PayPal Wins Patent for Ransomware Detection Solution

Global payment processing platform PayPal has been awarded a patent for a technique that can help with the timely detection and reduction of ransomware attacks. Ransomware attacks are a form of malware that takes over the victim's computer, locks up the files therein and demands a ransom before the files can be accessed again — often to be paid in cryptocurrency.

2019-4-19 21:17


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru