PayPal Revises Protection Policies for NFT Transactions
PayPal announces a policy update that will significantly alter the landscape for buyers and sellers of Non-Fungible Tokens (NFTs) using its platform. Starting May 20, 2024, PayPal will no longer offer buyer protection for NFT purchases. This change marks a shift from PayPal’s previous stance where transactions involving NFTs were covered under both buyer and seller protection programs. The company cited the complex nature of proving order fulfillment and the rapidly evolving digital asset environment as reasons for the policy revision.
