According to Coindesk news, global payment giant PayPal received a license to provide cryptocurrency services in the UK.
At this point, the UK Financial Conduct Authority (FCA) has allowed Paypal UK to engage in certain cryptocurrency activities, while the FCA's approval means PayPal can offer certain cryptocurrency services and advertise to local customers.
Additionally, PayPal registering to provide crypto services in the UK requires it to comply with FCA anti-money laundering rules.
As you may remember, in August, PayPal announced that it had temporarily suspended the purchase of cryptocurrencies such as Bitcoin (BTC) for its customers in the UK.
At this point, PayPal said in the email it sent to its customers that it would temporarily stop cryptocurrency purchases in the UK as of October 1, 2023.
