{"id":2897,"date":"2024-01-01T17:20:48","date_gmt":"2024-01-01T17:20:48","guid":{"rendered":"http:\/\/river-gas.com\/?p=2897"},"modified":"2024-01-01T17:20:48","modified_gmt":"2024-01-01T17:20:48","slug":"paypal-halts-uk-crypto-sales-until-2024-amid-regulation-shake-up","status":"publish","type":"post","link":"https:\/\/river-gas.com\/index.php\/2024\/01\/01\/paypal-halts-uk-crypto-sales-until-2024-amid-regulation-shake-up\/","title":{"rendered":"PayPal halts UK Crypto sales until 2024 amid regulation shake-up"},"content":{"rendered":"<p class=\"mol-para-with-font\">PayPal will pause all UK customer crypto sales through its platform from October in response to new rules on crypto promotions.<\/p>\n<p class=\"mol-para-with-font\">The to UK consumers.<\/p>\n<p class=\"mol-para-with-font\">The new rules will, among other restrictions, require crypto firms to publish risk warnings alongside advertising and cease offering &#8216;refer a friend&#8217; bonuses.<\/p>\n<div class=\"artSplitter mol-img-group\" style=\"style\">\n<div class=\"mol-img\">\n<div class=\"image-wrap\">  <\/div>\n<p> <noscript> <img id=\"i-c0b6b7dabfb0b24d\" website height=\"423\" width=\"634\" alt=\"PayPal said it will 'temporarily pause' the ability for customers to buy crypto on its platform from 1 October\" class=\"blkBorder img-share\" \/> <\/noscript> <\/div>\n<p class=\"imageCaption\">PayPal said it will &#8216;temporarily pause&#8217; the ability for customers to buy crypto on its platform from 1 October<\/p>\n<\/div>\n<p class=\"mol-para-with-font\">In an email sent to customers, the <a href=\"https:\/\/www.houzz.com\/photos\/query\/fintech%20company\">fintech company<\/a> said it will &#8216;temporarily pause&#8217; the ability for customers to buy crypto on its platform from 1 October as it works to satisfy the new regulations, which come into effect on 8 October<\/p>\n<p class=\"mol-para-with-font\">&#8216;PayPal consistently works closely with regulators around the world to adhere to applicable rules and regulations in the markets in which we operate,&#8217; it told customers.<\/p>\n<p class=\"mol-para-with-font\">It added that customers could hold and sell their crypto &#8216;at any time&#8217;.<\/p>\n<div>\n<div data-track-module=\"am-related_carousel^related_carousel\" data-track-selector=\".rotator-panels a:not([class*=external])\" data-dm-rotator-rotate=\"false\" data-track-pos=\"static\" data-dm-rotator-auto-init=\"\" id=\"p-18\" class=\"related-carousel with-fb-or-tw money\" data-dm-rotator-active-class=\"active\" data-dm-rotator-page-count=\"1.0\" data-dm-social-article-auto-init=\"\" data-dm-rotator-page-size=\"1\">\n<div class=\"rotator bdrcc\">\n<div class=\"rotator-title\">\n<h2>RELATED ARTICLES<\/h2>\n<ul class=\"rotator-pages link-xocc\">\n<li class=\"rotator-prev\"><\/li>\n<li><\/li>\n<li class=\"rotator-next\"><\/li>\n<\/ul><\/div>\n<ul class=\"rotator-panels link-bogr1 linkro-ccox\">\n<li>     <\/li>\n<\/ul><\/div>\n<div class=\"fb\">\n<h2>Share this article<\/h2>\n<div class=\"share\"><span class=\"wai\">Share<\/span><\/div>\n<div class=\"count\"><span>21<\/span> shares<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"mol-para-with-font\">In May,\u00a0, amid concerns it poses significant risks to consumers.<\/p>\n<p class=\"mol-para-with-font\">When the FCA announced its crypto marketing shake-up in June, its executive director of consumers and competition Sheldon Mills said: &#8216;It is up to people to decide whether they <a href=\"https:\/\/storevcc.com\">Buy Verified Revolut Account<\/a> crypto.<\/p>\n<p class=\"mol-para-with-font\">&#8216;But research shows many regret making a hasty decision. Our rules give people the time and the right risk warnings to make an informed choice.<\/p>\n<p class=\"mol-para-with-font\">&#8216;Consumers should still be aware that crypto remains largely unregulated and high risk.Those who invest should be prepared to lose all their money.<\/p>\n<p class=\"mol-para-with-font\">&#8216;The crypto industry needs to prepare now for this significant change. We are working on additional guidance to help them meet our expectations.&#8217;<\/p>\n<p class=\"mol-para-with-font\">Calls for better regulation are also growing worldwide as consumers, regulators and governments grapple with scam activity and the use of crypto by criminal organisations operating undetected.\u00a0<\/p>\n<p class=\"mol-para-with-font\">The collapse of several crypto firms\u00a0has also left amateur investors nursing large losses.<\/p>\n<p class=\"mol-para-with-font\">Sam Bankman-Fried,\u00a0stepped down as head of FTX last November after withdrawals left it short of cash, leading to bankruptcy.<\/p>\n<p class=\"mol-para-with-font\">Allegations swirled that he ran it as a \u2018personal fiefdom&#8217; while spending \u00a3250million on property.<\/p>\n<div class=\"moduleHalf\">\n<div class=\"money item html_snippet module\"> <iframe frameborder=\"0\" id=\"price-chart\" website scrolling=\"no\" height=\"290\" width=\"300\"><\/iframe> <\/div>\n<\/p><\/div>\n<p class=\"mol-para-with-font\">Around 1million creditors face losses of billions of pounds, among them an estimated 80,000 Britons.<\/p>\n<p class=\"mol-para-with-font\">After token prices slumped dramatically last year, the price of top cryptocurrency bitcoin has gradually recovered, up around 76 per cent so far this year.However, its price is at less than half of the all-time high reached in November 2021.<\/p>\n<p class=\"mol-para-with-font\">Earlier this month, PayPal&#8217;s shares got a boost, when it launched a stablecoin, becoming the first major financial technology firm to embrace digital currencies for payments and transfers.<\/p>\n<p class=\"mol-para-with-font\">The California-based company launched, PayPal USD, which is issued by Paxos Trust Company and is a cryptocurrency that unlike bitcoin is tied to a fiat currency, the U.S dollar.<\/p>\n<p class=\"mol-para-with-font\">The group also said that the digital currency will first only be made available for U.S-based PayPal customers, with the exception of Hawaii and would be redeemable one-to-one for US dollars.<\/p>\n<div class=\"moduleFull\">\n<div class=\"money item html_snippet module\">\n<style>\n<p><strong><u>#fiveDealsWidget .dealItemTitle#mobile display:none<\/u><\/strong><\/p>\n<p>#fiveDealsWidget display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px<\/p>\n<p>#fiveDealsWidget div, #fiveDealsWidget a margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif<\/p>\n<p><strong>#fiveDealsWidget .widgetTitleBox display:block; float:left; width:100%; background-color:#af1e1e;<\/strong><\/p>\n<p>#fiveDealsWidget .widgetTitle color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px;<\/p>\n<p>#fiveDealsWidget a.dealItem float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;<\/p>\n<p>#fiveDealsWidget a.dealItem#last margin-right:0<\/p>\n<p>#fiveDealsWidget .dealItemTitle display:block;  margin:10px 5px; color:#000; font-weight:bold<\/p>\n<p>#fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img float:left; display:block; margin:0; padding:0<\/p>\n<p>#fiveDealsWidget .dealItemImage border:1px solid #ccc<\/p>\n<p>#fiveDealsWidget .dealItemImage img width:100%; height:auto<\/p>\n<p>#<a href=\"https:\/\/www.savethestudent.org\/?s=fiveDealsWidget\">fiveDealsWidget<\/a> .dealItemdesc float:left; display:block; color:#004db3; font-weight:bold; margin:5px;<\/p>\n<p>#fiveDealsWidget .dealItemRate float:left; display:block; color:#000; margin:5px<\/p>\n<p>#fiveDealsWidget .dealFooter display:block; float:left; width:100%; margin-top:5px; background-color:#e3e3e3<\/p>\n<p><strong><u>#fiveDealsWidget .footerText font-size:10px; margin:10px 10px 10px 10px;<\/u><\/strong><\/p>\n<p>@media (max-width: 635px)<\/p>\n<p>#fiveDealsWidget a.dealItem  width:19%; margin-right:1%<\/p>\n<p>#fiveDealsWidget a.dealItem#last width:20%<\/p>\n<p><b>@media (max-width: 560px)<\/b><\/p>\n<p><strong><u>#fiveDealsWidget #desktop display:none;<\/u><\/strong><\/p>\n<p>#fiveDealsWidget #mobile display:block!important<\/p>\n<p><strong>#fiveDealsWidget a.dealItem background-color: #fff; height:auto; min-height:auto<\/strong><\/p>\n<p>#fiveDealsWidget a.dealItem border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px<\/p>\n<p>#fiveDealsWidget a.dealItem#last border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px<\/p>\n<p>#fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last  width:100%<\/p>\n<p>#fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage float:left; display:inline-block<\/p>\n<p><b>#fiveDealsWidget .dealItemImage width:35%; margin-right:1%<\/b><\/p>\n<p>#fiveDealsWidget .dealItemContent width:63%<\/p>\n<p>#fiveDealsWidget .dealItemTitle margin: 0px 5px 5px; font-size:16px<\/p>\n<p>#fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate clear:both<\/p>\n<\/style>\n<div id=\"fiveDealsWidget\">\n<div class=\"widgetTitleBox\">\n<div class=\"widgetTitle\">DIY INVESTING PLATFORMS<\/div>\n<\/p><\/div>\n<p> <!-- DEAL ONE --> <\/p>\n<div class=\"deals\">  <!-- DEAL TWO -->  <!-- DEAL THREE -->  <!-- DEAL FOUR -->  <!-- DEAL FIVE -->  <\/div>\n<div class=\"dealFooter\">\n<div class=\"footerText\">Affiliate links: If you take out a product This is Money may earn a commission. This does not affect our editorial independence.<\/p>\n<\/div><\/div>\n<p> <!-- FOOTER --> <\/p>\n<div style=\"display:block; float:left; width:100%; margin-top:5px; background-color:#af1e1e;\">\n<div style=\"font-size:18px; margin:6px 10px 6px 10px; color:#fff;\">\n<div> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div style=\"clear:both;\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p><!-- ad: website --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PayPal will pause all UK customer crypto sales through its platform from October in response to new rules on crypto promotions. The to UK consumers. The new rules will, among other restrictions, require crypto firms to publish risk warnings alongside advertising and cease offering &#8216;refer a friend&#8217; bonuses. PayPal said it will &#8216;temporarily pause&#8217; the [&hellip;]<\/p>\n","protected":false},"author":955,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[222],"tags":[422],"class_list":["post-2897","post","type-post","status-publish","format-standard","hentry","category-internet-business-seo","tag-buy-verified-revolut-account"],"_links":{"self":[{"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/posts\/2897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/users\/955"}],"replies":[{"embeddable":true,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/comments?post=2897"}],"version-history":[{"count":1,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/posts\/2897\/revisions"}],"predecessor-version":[{"id":2898,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/posts\/2897\/revisions\/2898"}],"wp:attachment":[{"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/media?parent=2897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/categories?post=2897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/tags?post=2897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}