Web3 Diaries-PayPal To Stop Crypto Purchases In UK Until 2024
Payments behemoth PayPal said on Wednesday that it will temporarily halt crypto sales in the United Kingdom until early 2024 due to tougher regulations by the nation’s financial authority.
Customers who have previously bought cryptocurrency assets using their PayPal accounts may maintain such assets on the platform or sell them at any moment, according to the business. But as on October 1, you won’t be able to make any new purchases.
“We’re taking this measure in response to new rules enacted by the U.K. Financial Conduct Authority (FCA) that require crypto firms to implement additional steps before customers can purchase crypto,” PayPal said in a statement.
Crypto Wallet Provider Ledger To Let Users Buy Bitcoin, Ether Through PayPal Account
The makers of hardware wallets Ledger and PayPal have teamed together to enable customers to purchase cryptocurrency in Ledger Live using their PayPal accounts, the firms said on Wednesday.
Users of Ledger Live may deposit tokens straight into the hardware wallet and purchase cryptocurrency using fiat money. Users will be able to link their PayPal accounts without undergoing any further verification thanks to the integration of PayPal.
“We’re combining the uncompromising security of Ledger with PayPal’s leadership in protected payments technology to help facilitate a seamless platform for user crypto transactions,” Ledger CEO Pascal Gaithier said in a statement. “Ledger is committed to simplifying the world of
Shiba Inu’s Ethereum Layer-2 Blockchain Shibarium Goes Live
Shiba Inu developers much-awaited Shibarium blockchain, an Ethereum layer-2 network that uses SHIB tokens as fees, is set to go live, according to the CoinDesk report.
Layer 2s are networks built atop a layer 1 blockchain – in this case Ethereum – and designed to provide faster and cheaper transactions for users.
Shibarium joins an increasingly crowded blockchain landscape; there are at least 50 other networks hoping to lure users with low fees to an ecosystem focused mainly on financial services and gaming.
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