PayPal will suspend cryptocurrency purchases in the UK from October, with a possible return early next year

ChainCatcher news, according to Cryptoslate, PayPal stated in an email sent to some users on August 14 that it will temporarily suspend cryptocurrency purchase services in the UK starting from October 1, 2023, and will resume in early 2024 (exact date not specified). This request is due to new rules introduced by the UK's Financial Conduct Authority (FCA). The company did not specify which rules are involved but indicated that these rules will require it to "implement additional steps before customers can purchase cryptocurrencies."

PayPal stated that users will be able to hold and sell their cryptocurrencies during the service interruption.