PayPalthe renowned payments giant, has announced revisions to its trading policies regarding NFTs effective May 20.
The company will no longer offer buyer protection for NFT purchases, and it will adjust its seller protection program, eliminating safeguards for transactions involving NFTs valued above or below $10,000.
Under the revised policy, NFT sales that exceed the threshold are no longer covered against false claims and chargebacks, while for transactions below this threshold, seller protection only applies if the buyer claims it was unauthorized and meets all other eligibility requirements.
Source: PayPal