News on Medial

Payments giant PayPal obtains crypto marketing green light in Britain

Economic Times · 1y

PayPal has obtained registration from the Financial Conduct Authority (FCA) in the UK to offer cryptoassets activities, according to the FCA website. The registration process requires companies to demonstrate safeguards against money laundering and terrorism financing. The FCA has also implemented stricter regulations on marketing cryptoassets, impacting competitors like Binance. In August, PayPal announced a temporary pause on UK customers' ability to buy cryptoassets, with plans to resume in early 2024. PayPal has not yet commented on the FCA registration.