PayPal Restricts Some NFT Transactions Under Its Seller Protection Program
16 February 2022 16:00, UTC
PayPal has revised its seller protection program to exclude NFT transactions over $10,000. This is because the NFT market is facing a number of scam related issues.
Payment platform PayPal has revised its policy affecting NFT transactions. Under the new Seller Protection Program rules, NFT transactions over $10,000 will not be eligible. The changes will come into effect on March 21, 2022.
Items that are not covered by the Seller Protection Program include items provided in the form of NFTs, including art, media, antiques, and collectibles in physical or digital form. The changes are related to numerous cases of malicious activity in the NFT space.
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