PayPal to stop crypto transactions in UK until 2024
Payments giant PayPal has been stopping UK customers from buying cryptocurrencies through its platform since October. PayPal has taken this decision to comply with the new rules of crypto promotion. News Reuters.
Britain's financial regulator is tightening rules on the exposure of crypto ads to consumers in the country. Companies must publish warnings about the risks of crypto transactions. At the same time, the regulatory body has also given instructions to cancel the referral bonus.
In an email, PayPal said customers will temporarily be unable to buy crypto on the platform starting October 1. The firm expects to resume crypto trading in early 2024 following the new rules that came into effect on October 8.
