American multinational company, PayPal, has revised its Seller Protection program to exclude non-fungible token (NFT) transactions that surpass $10,000.
Limiting NFT Transactions
According to PayPal’s Policy Updates page, NFT transactions valued at more than $10,000 are ineligible. The changes will come into effect from March 21 this year.
A document further elaborating stated that items or transactions such as art, media, antiques, or collectibles, physically or digitally, as represented by an NFT worth more than $10,000 or equivalent value in local currency, as calculated at the time of the transaction, will not be eligible for its Seller Protection Program.
“Revising PayPal’s Seller Protection program to expand the list of ineligible items to include certain Non-Fungible Tokens (NFTs) with a transaction amount of more than $10,000 USD.”
PayPal first announced enabling users in the US to buy Bitcoin and other cryptocurrencies in October 2020. The following year, the payment p
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