- **#PayPal Pauses UK #crypto Purchases**: PayPal will temporarily halt #cryptocurrency purchases in the United Kingdom starting from October 1, 2023. The pause is due to the company's efforts to comply with new regulations introduced by the UK's Financial Conduct Authority (FCA).
- **Regulatory Compliance and Re-Enabling**: PayPal aims to re-enable crypto purchases in the UK in early #2024 after ensuring compliance with the new FCA regulations. During the pause, existing PayPal customers holding cryptocurrencies can keep them on the platform and sell them if desired.
- **FCA's Regulatory Landscape**: The decision aligns with the FCA's efforts to regulate the crypto industry more effectively. The FCA announced that only a small percentage of crypto license applicants have been registered since 2020. Additionally, by October 2023, crypto #asset firms must ensure their marketing strategies adhere to the UK's financial promotions regime.
