PayPal Secures UK Crypto License Amid Stricter Regulations; Ethereum and VC Spectra Experience Price Boost

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The post PayPal Secures UK Crypto License Amid Stricter Regulations; Ethereum and VC Spectra Experience Price Boost appeared first on Coinpedia Fintech News

PayPal, a publicly-listed traditional fintech giant, received regulatory approval in the UK on October 31 amid tighter regulations. It was reported on October 30 that Grayscale’s Ethereum (ETH) ETF application had entered a 240-day review process. How will Ethereum (ETH) and VC Spectra (SPCT), a new crypto project that attracted $2.4 million in its private seed sale, react to this set of positive news?

Will PayPal’s regulatory approval boost ETH and SPCT?

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Summary

PayPal scores a crypto license in the UK despite a strict regulatory environment.
An Ethereum ETF could pave the way for more institutional investors.
Analysts are betting on SPCT after delivering 587.5% gains during the presale.

PayPal Gets Crypto License in the UK

PayPal, a traditional financial giant listed on the Nasdaq exchange, scored crypto regulation approval in the UK on October 31. The fintech firm became the fourth firm to get a crypto license from the Financial Conduct Authority (FCA) this year.

PayPal’s crypto license comes when the UK government is planning strict regulations for the nascent industry. The UK wants the crypto industry to be regulated under the existing Financial Services and Markets Act Framework.

PayPal announced the suspension of crypto purchases in the UK in August this year, citing a strict regulatory environment. The suspension remains in place despite PayPal’s receipt of a crypto license. PayPal is increasing its headcount in the UK as it has 10 open vacancies, including a post for a crypto money laundering reporting officer.

Ethereum Price Prediction as ETF Fever Takes Over

It was reported on October 30 that Grayscale’s application to launch a spot Ethereum (ETH) ETF has entered the 240-day review period. As the clock winds down for a possible Ethereum (ETH) ETF approval, the crypto market remains upbeat that a spot crypto ETF will be approved in the U.S., opening the door for institutional investors.

Ethereum (ETH) is up 0.95% after the price of ETH marginally increased from $1782.19 on October 30 to $1799.06 on November 1. Given the Grayscale Ethereum (ETH) news, investors are asking one question: should I buy Ethereum?

Analysts have given an optimistic Ethereum price prediction. They expect Ethereum (ETH) to eclipse its previous all-time high of $4,891 when a spot Ethereum ETF is approved in the U.S. Analysts claim that Ethereum (ETH) is the best crypto to buy as several bullish narratives emerge.

Analysts Bet on VC Spectra (SPCT) Amid ETF News

VC Spectra (SPCT) is the best new crypto to invest in because of its presale performance and the overall positive market outlook. VC Spectra (SPCT) is a decentralized asset management protocol that leverages AI to make high-yield, low-risk investments in new ICOs.

SPCT, a BRC-20 token standard built on the Bitcoin network, is at the heart of the VC Spectra ecosystem. The practical uses of the VC Spectra (SPCT) token include paying transaction fees, voting and governance, and gaining exclusive access to promising projects.

Due to its compelling value proposition, VC Spectra (SPCT) has received huge investor attention during its ongoing presale. The VC Spectra (SPCT) presale is in stage 4, where early investors have earned 587.5% profits so far.

By the end of the presale, Stage 1 investors will make a 900% profit. Investors who buy VC Spectra (SPCT) at current prices will earn a 45% gain. Analysts say VC Spectra (SPCT) is one of the top crypto coins to buy because they expect it to skyrocket when it’s listed on exchanges.