PayPal UK successfully registered as a cryptocurrency service provider.

According to a report by CoinDesk on November 1st, payment giant PayPal has successfully registered as a cryptocurrency service provider with the UK Financial Conduct Authority (FCA). Based on information on the regulatory agency's website, PayPal UK Limited is now allowed to conduct "specific crypto asset activities" since Tuesday. Companies offering crypto services in the UK must obtain registration approval and comply with FCA's anti-money laundering rules. This registration means that under the recently implemented marketing system, PayPal can approve its own crypto-related communications. In August of last year, PayPal announced a temporary suspension of cryptocurrency purchases in the UK to comply with the regulation.