In recent communications to its U.K. clientele, Paypal has announced a temporary suspension of cryptocurrency purchases starting October 1, 2023, with plans to resume in early 2024. Notably, even amidst this hiatus, users can continue to hold their crypto within the Paypal ecosystem and are free to liquidate their digital holdings whenever they wish.
Paypal Temporarily Halts UK Cryptocurrency Buys
British Paypal users will find their ability to acquire digital currencies curtailed post-October 1, 2023. This temporary measure, as highlighted in an email to U.K. customers, is set to last until sometime in the early part of 2024, with the company assuring, “We expect to re-enable crypto purchases in early 2024.”
This development trails Paypal’s introduction of a stablecoin, PYUSD, anchored to the U.S. dollar’s value. To reflect on the timeline, Paypal had unveiled its crypto services in the U.K. in August 2021, with a full-fledged deployment by September. From that juncture, users
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