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Crypto services for UK customers launched by PayPal

Residents of the United Kingdom will now be able to buy, hold and sell crypto assets through PayPal for the first time marking a important milestone for a company that began offering digital asset services less than a year ago. 

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Residents of the United Kingdom will now be able to buy, hold and sell crypto assets through PayPal for the first time marking a important milestone for a company that began offering digital asset services less than a year ago. 

The global payments provider announced that customers will soon have access to Bitcoin, Ether, Litecoin and Bitcoin Cash through PayPal’s website and mobile app. This makes the first expansion of PayPal’s cryptocurrency services beyond the United States.

Senior executive for PayPal’s crypto division Jose Fernandez da Ponte, cited that the “digitization of money” during the pandemic as one of the primary motivations for entering crypto in the first place. He also stated:

“Our global reach, digital payments expertise, and knowledge of consumer and businesses, combined with rigorous security and compliance controls provides us the unique opportunity, and the responsibility, to help people in the U.K. to explore cryptocurrency.”

By offering its cryptocurrency services to United Kingdom residents, PayPal could play a role in increasing exposure to digital assets in the country. PayPal penetration is highest in the United Kingdom at over 2 million monthly active users compared to other European countries.

In terms of regulations, the U.K.’s Financial Conduct Authority, or FCA, is increasingly cracking down on cryptocurrency exchanges that do not meet its registration requirements. Binance’s U.K. operations were shuttered earlier this summer after the FCA warned the exchange it was not permitted to offer regulated trading activity in the country.

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Hong Kong introduces crypto staking rules, reaffirms Web3 commitment

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Hong Kong’s Securities and Futures Commission (SFC) has introduced new guidelines for crypto staking services, signaling the region’s continued commitment to fostering a regulated and innovation-friendly Web3 ecosystem.

The new rules clarify how virtual asset trading platforms can offer staking products, emphasizing investor protection, risk disclosures, and operational transparency. Licensed platforms will be required to clearly separate client and company assets, provide detailed staking mechanisms, and maintain robust custody arrangements.

The SFC’s move comes as part of its broader strategy to establish Hong Kong as a leading digital asset hub while ensuring regulatory clarity. Officials reiterated that the city remains focused on promoting Web3 development through structured oversight and openness to innovation.

The staking framework aims to strike a balance between encouraging market growth and protecting investors from potential risks tied to volatile or opaque staking schemes. Industry participants have welcomed the clarity, viewing it as a positive step toward legitimizing crypto services in the region.

As global jurisdictions wrestle with how to regulate staking and other decentralized finance (DeFi) offerings, Hong Kong continues to position itself as a model for responsible crypto advancement.

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Nearly 400,000 FTX users risk losing $2.5 billion in repayments

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Thousands of FTX creditors risk forfeiting a collective $2.5 billion in claims after failing to meet a key Know Your Customer (KYC) deadline required for participation in the collapsed exchange’s bankruptcy recovery process.

The deadline, which required creditors to verify their identities through FTX’s designated platform, was part of court-approved procedures aimed at ensuring compliance and streamlining the payout process. Those who missed the cutoff may now be excluded from receiving distributions, despite having filed valid claims.

FTX’s restructuring team had issued multiple reminders ahead of the deadline, warning that failure to complete KYC could result in disqualification. The platform’s terms of distribution emphasize regulatory obligations and the need to confirm user identities before funds can be released.

With creditor payouts expected to begin later this year, the exclusion of non-compliant claimants could significantly impact the final distribution pool. Legal experts note that while there may be limited recourse for those who missed the deadline, further legal action or appeals could still arise.

The development marks another dramatic twist in the FTX bankruptcy saga, highlighting the complexities of asset recovery in one of crypto’s largest corporate collapses.

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Memecoin platform Pump.fun brings livestream feature back to 5% of users

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Memecoin platform Pump.fun has reinstated its popular livestream feature, allowing users to once again track real-time token launches and market activity across the Solana-based ecosystem. The move comes as retail interest in memecoins continues to surge, with the platform playing a central role in driving viral token creation.

The livestream had previously been disabled due to overwhelming traffic and infrastructure constraints. Its return reflects both improved backend capacity and a response to user demand for more interactive, real-time insights into the platform’s fast-paced environment.

Pump.fun enables users to launch tokens with minimal technical knowledge, contributing to a flood of micro-cap coins and community-driven speculation. The livestream gives users a dynamic view of new listings, price action, and trending tokens as they emerge.

As memecoin trading grows more competitive — and increasingly chaotic — Pump.fun’s decision to bring back the feature reinforces its position as a hub for the next generation of decentralized, meme-fueled market experiments.

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