Brits can buy and sell bitcoin using PayPal. The payment processor says that all registered UK customers can now use the services.
The $1 billion company previously offered its services in the United States. Now it’s the British’s turn.
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PayPal does everything step by step
Jose Fernandez da Ponte is the head of everything bitcoin at PayPal and says he is primarily focused on compliance. Meaning: comply with local regulations. Many cryptocurrency exchanges have difficulty with this, but an organization like PayPal has less difficulty with this.
For a company like PayPal, it is very important to color within the lines and do everything according to the rules. “We are keen to continue working closely with UK lawmakers and other lawmakers from around the world to provide our support and contribution to shaping the role of digital money in the future of our financial system.” Da Ponte said.
It is therefore expected that PayPal will also start offering bitcoin-related services in other countries in Europe in the relatively short term. Nothing is known about the next steps yet, but it is expected that it will be initiated in various ways.