PayPal will cancel buyer and seller protection for NFTs

ChainCatcher news, according to The Block, under PayPal's new policy (effective May 20), NFT purchases will no longer be supported by the company's buyer protection program. Additionally, NFT sales exceeding $10,000 will not be protected against false claims and refunds.

Previously, the purchase and sale of NFTs were initially supported by PayPal's buyer and seller protection program, although the company later restricted support for token sellers.