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> PayPal (Europe) S.à r.l. et Cie, S.C.A. is a credit institution (or bank) authorised and supervised by Luxembourg’s financial regulator So PayPal "EU" is act
by cptskippy 5y ago
> PayPal (Europe) S.à r.l. et Cie, S.C.A. is a credit institution (or bank) authorised and supervised by Luxembourg’s financial regulator
So PayPal "EU" is actually just the Luxembourg Bank PayPal LU which is a subsidiary of the US Holdings.
I'm not a lawyer but it seems PayPal LU just facilitates transfer of funds from EU accounts to PayPal Holdings US. Once the funds are in the US, they are subject to US law.
The blocking statue protects EU Operators from having to comply with 3rd party regulations. But since PayPal LU is simply facilitating transfer of money from the EU to your PayPal account which is in the US, PayPal isn't a 3rd party to the transaction and thus has to comply with US sanctions.