PayPal Halts UK Crypto Purchases, Coinbase OK’d for US Regulated Crypto Futures

• PayPal UK halts crypto purchases due to UK financial regulations from October 2023 to early 2024.
• Coinbase approved for regulated crypto futures, expanding market access for US customers.
• Coinbase Derivatives Exchange excels with nano futures, high liquidity, and secure trading options.

Due to regulatory compliance, PayPal suspends UK crypto purchases from October 2023 to early 2024. Meanwhile, Coinbase secures approval for regulated US crypto futures, expanding market access.

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PayPal’s decision arises from the need to comply with stringent financial regulations in the United Kingdom, as new rules demand adherence before allowing users to engage in crypto transactions. During this period, PayPal UK customers won’t be able to purchase cryptocurrencies. However, they can still hold and sell their current holdings without charges.

On the other side of the Atlantic, Coinbase, a leading crypto exchange, has achieved a monumental milestone by securing approval to offer regulated crypto futures trading to eligible customers in the United States. The Commodity Futures Trading Commission (CFTC) approval allows Coinbase’s Financial Markets division to offer derivatives alongside their spot market, democratizing crypto trading with regulatory oversight.

Coinbase’s efforts to establish a transparent and secure marketplace have been evident through the success of its Coinbase Derivatives Exchange. This platform has flourished with the introduction of nano Bitcoin and Ethereum futures contracts, catering to retail and institutional investors. The exchange’s substantial liquidity pool, currently boasting $4.7 billion BTC and $2.0 billion ETH futures traded in notional volume, underlines its position as a trusted and reliable market.

While the cryptocurrency market undergoes ongoing changes, the divergent developments of PayPal and Coinbase highlight the worldwide trend toward adhering to regulations and fostering innovation.

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• PayPal’s Stock Dumps as Banking Regulators Warn on Stablecoin Issuance
• PayPal Joins the TRUST Network at Coinbase
• PayPal’s Crypto Holdings Surge with Venmo’s Crypto Feature