SEC Issues Subpoena to PayPal Over PYUSD Stablecoin

2023-11-2 13:36

Payment giant PayPal’s stablecoin, PYUSD, has fallen under the scrutiny of the US Securities and Exchange Commission (SEC)

According to Reuters, PayPal has received a subpoena from the SEC regarding its stablecoin tied to US dollars. The company launched its stablecoin, PYUSD, in August by partnering with Paxos. Then, in September, it released a transparency report showing that the total assets held in custody meet or exceed the token balance.

This is a developing story.

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The post SEC Issues Subpoena to PayPal Over PYUSD Stablecoin appeared first on BeInCrypto.

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