PayPal halts new crypto purchases in Luxembourg from Q2

PayPal has temporarily suspended new purchases of cryptocurrencies such as Bitcoin for users in Luxembourg since June 25, Crypto Briefing reported. According to the media outlet, the move is tied to a need to collect and verify customer tax information under the OECD’s Crypto-Asset Reporting Framework, or CARF. Existing holdings can still be managed and sold, but additional purchases are restricted. PayPal plans to restore the purchase function by the end of 2026 after completing system updates.