The UK has launched an anti-competitive conduct investigation into Mastercard, Visa, and PayPal.

CoinFeed reported on May 6 that the UK financial regulator has launched investigations into Mastercard (MA.N), Visa (V.N), and PayPal (PYPL.O) on suspicion of anti-competitive conduct regarding the transfer and use of funds in PayPal's digital wallet. The Financial Conduct Authority (FCA) stated on Wednesday that no conclusion has yet been reached regarding whether the companies have violated competition law. PayPal disclosed the investigation in a regulatory filing this week. A PayPal representative stated that the company is cooperating with the FCA investigation but would not comment further as the case is ongoing.