The payment system permanently suspended the maintenance of the client’s account and froze the funds remaining on the account for six months after he made more than 10 transactions with cryptocurrency in a week.
PayPal, which recently added the ability to buy, sell and store cryptocurrency, has blocked a user’s account for trading it. The trader himself under the pseudonym TheCoolDoc told about this in a post on Reddit.
The user explained that he traded cryptocurrency from his PayPal account and made at least 10 transactions in the last week. After that, the payment system sent him a message that his account was permanently restricted “due to potential risk.” The company also asked the trader for details on each operation and froze the remaining $ 462 on the account for 180 days.
“I am 100% sure that I have not done anything wrong. This is a misunderstanding. They think I have done over 50 buy and sell transactions in a week, even though it’s just cryptocurrency trading,” wrote TheCoolDoc.
He noted that the company cited the excess of the limit on the sale of goods in $ 10 thousand as the reason for blocking the account, although the user denies this. PayPal, adding the ability to trade cryptocurrency, introduced a restriction – customers can buy digital assets for no more than $ 10 thousand per week, although this limit was later increased to $ 20 thousand.
In early November, PayPal CEO Daniel Schulman announced that the demand for cryptocurrency from customers was 2-3 times higher than expected. He added that the payment system is going to add support for new assets later. Currently, users can only work with Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
