PayPal announced that it will no longer offer buyer and seller protection for transactions involving NFTs from May 20, marking a notable shift in the company's approach to the digital asset market. Historically, PayPal's protection programs have safeguarded consumers against fraudulent transactions, providing refunds and shielding sellers from chargebacks and false claims.
PayPal's policy update, effective May 20, 2024, will remove NFT transactions from its purchase protection. The post PayPal withdraws user protection for NFT transactions appeared first on Crypto Briefing.
PayPal is set to alter its protection policies for NFT transactions, marking a striking shift from its previous stance of supporting the tokens.
PayPal announced policy changes starting May 20, 2024, excluding NFT purchases from buyer protection and limiting protection for NFT sales over $10,000.
Under a new PayPal policy, effective May 20, all NFT purchases and some sales will no longer be backed by the company's buyer ans seller protection programs.
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