In a quarterly earnings report filed on Thursday, November 2, the financial technology giant PayPal (NASDAQ: PYPL) revealed that it had received a subpoena from the Securities and Exchange Commission (SEC) the day before.
According to the document, SEC’s Division of Enforcement is seeking documentation related to PayPal USD (PYUSD). PayPal also stated it is fully cooperating with the SEC but provided no further details on the matter.
In the same document, the financial giant also stated it had received a civil investigative demand (CID) from the Consumer Financial Protection Bureau (CFPB) in October pertaining to investigation and error-resolution obligations under Regulation E, the presentment of transactions to linked bank accounts.
PayPal also stated that CFPB is requesting relevant documentation and that it is fully cooperating with the watchdog.
PayPal’s foray into cryptocurrencies
PayPal now has a years-long history with digital assets as it has enabled its users to buy a
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