The financial services giant PayPal has successfully registered as a crypto service provider with the U.K. Financial Conduct Authority, according to the regulator’s website.After being added to the registry on Tuesday, Paypal UK Limited is allowed to do “certain cryptoasset activities.”Businesses that provide cryptocurrency services in the United Kingdom are required to adhere to the FCA’s anti-money laundering regulations and be granted registration.
In August, PayPal announced that it was temporarily pausing cryptocurrency purchases in the country in order to comply with the recently imposed marketing regime. Landing on the register, which opened in 2020, means PayPal can also approve its own crypto-related communications.