I'm under the impression that I should be able to paste Markdown text into the block editor and that it should pick that up and convert it as per:

But that does not work.

In my example I have some text that's like this:

> bq1

> bq2

I would expect that copy pasting that into the editor would result in two quote blocks being created. At the moment the markdown syntax is not interpreted at all. This is the same for headings etc.

Is this standard behaviour? Is there some other way to be able to paste formatted text into the editor?