PayPal to Discontinue Crypto Purchases in the UK Due to Unclear Regulations!

The post PayPal to Discontinue Crypto Purchases in the UK Due to Unclear Regulations! appeared first on Coinpedia Fintech News

Starting October 1, 2023, PayPal has announced its decision to discontinue Bitcoin and other crypto purchases for its customers in the United Kingdom. The digital payments giant cites unclear crypto regulations as the primary reason for its decision, as it seeks a better understanding of the legal framework governing cryptocurrencies in the UK. According to the company, this would help them mitigate operational risks and align with regulatory requirements. While existing holdings can still be held, users will no longer be able to buy Bitcoin, Ethereum, and other digital currencies through the platform, which could potentially impact the UK’s thriving crypto scene.