PayPal to pause UK crypto sales as new rules take effect - report
Justin Sullivan

Starting in October, PayPal Holdings (NASDAQ:PYPL) won't allow its U.K. customers to buy cryptocurrencies through its platform as it adjusts to new rules on crypto marketing, according to a media report.
The country's financial regulator is set to implement tougher rules limiting crypto advertising. Under the new regulation, "refer-a-friend" bonuses will end, and crypto firms will have to carry warnings about risk.

PayPal (PYPL) will pause its customers' ability to buy crypto on the platform starting on Oct.1 as it works to comply with the new rules, Reuters reported, citing emails that customers received on Tuesday. The new regulations become effective on Oct. 8. The company expects to restart the capability in early 2024, it said.
During that time, U.K. customers will still be able to hold and sell crypto.
PayPal (PYPL) shares eged up 0.1% in Wednesday morning trading.


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