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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