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PayPal Removes Protection for NFT Transactions Over $10,000

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PayPal has revised its seller protection program to only exclude NFT transactions in excess of $10,000. This happens when the market for non-fungible tokens has various issues related to khaki.

The PayPal global payment platform has modified their politics, which affects NFT transactions. Under the new Seller Protection Program rules, NFT transactions over $10,000 will not be allowed. The change will take effect on March 21, 2022.

Among the items not covered by Program The seller’s protections are the products presented NFTs, including art, media, antiques, and collectibles in physical or digital form.. This change came after numerous cases of malicious activity in the NFT space, where attackers found ways to trick the system.

Lately, UK tax authorities seize NFTs linked to suspected NFT fraud estimated at about $1.8 million. That khaki NFTs tend to be diverse and plentiful, which is why many platforms urge users to be careful with them.

PayPal was added to the crypto ecosystem last year and the move was noticed as a step forward for the cryptocurrency market. There…

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