PayPal to Suspend UK Crypto Sales Ahead of New Regulations

PayPal Holdings Inc. won’t allow UK users to buy cryptocurrencies on its platform from October, saying it needs time to ensure compliance with new local rules.

Customers in the UK were told in an email on Tuesday that the function won’t be restored until early next year, a spokesperson for the company said, “as we work to satisfy new regulatory requirements.”

The UK’s Financial Conduct Authority will begin enforcing changes to the country’s financial promotions rules from Oct. 8, which have been updated to explicitly include cryptoassets for the first time. All crypto companies advertising in the UK must make ...