PayPal allows Bitcoin and crypto spending
RATHER LIKE LEGALIZING AND ADVOCATING BESTIALITY!
Cryptocurrencies' volatile prices - along with their historical use as a less traceable payment method for illegal purposes - have led to numerous calls for them to be regulated.
PayPal has been granted permission for its operation from the New York State Department of Financial Services, in the form of a conditional "Bitlicence" - the first such licence granted.
To begin with, the service will work with an existing cryptocurrency provider in the US, the Paxos Trust Company.
But it is not PayPal's first venture into the area.
The firm was once a partner in Facebook's digital currency Libra, but became the first to pull out of the alliance, just a few months after it was announced.
The scheme was controversial, attracting attention from financial regulators in several countries.
Earlier this year, Facebook was reported to be "rethinking" the idea amid the resistance.
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