The post PayPal Subpoenaed by SEC Over USD Stablecoin! appeared first on Coinpedia Fintech News
PayPal has received a subpoena from the Securities and Exchange Commission (SEC) over its US dollar stablecoin, the company has confirmed. PayPal launched the stablecoin in August, making it a popular payment method for those seeking to avoid high levels of exposure to digital currency fluctuation. The subpoena reflects the increasing scrutiny regulatory bodies are paying to these products. PayPal is the first major fintech company to adopt digital currency for transfer and payment processing. The USD stablecoin feeds into this by protecting traders against volatile markets.
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