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PayPal to Suspend Cryptocurrency Purchases for UK Users Starting in October

LemonBG

By LemonBG,
in Cryptocurrency and Blockchain

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LemonBG Occasional Contributor

LemonBG

Posted
Posted

PayPal has said in an email sent to some of its users that it will temporarily suspend its cryptocurrency purchase service in the UK for the next few months. The message states that the service will be suspended from October 1, 2023 and will resume in early 2024 (exact date unknown). Despite the inability to make purchases, PayPal said that users will be able to hold and sell their cryptocurrencies during the service outage. 
The company did not specify whether users will be able to transfer cryptocurrencies to other wallets and exchanges, although it appears that this feature is currently only available to users in the United States. The company assured users that their cryptocurrencies remain safe and said there will be no fees for holding the cryptocurrency.

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