La SEC golpea a PayPal con una citación sobre Stablecoin
- PayPal lanzó su moneda estable PYUSD en agosto.
- La SEC ha acusado a varias empresas de cifrado de violar las leyes de valores de EE. UU.
La empresa de servicios de pago PayPal tiene confirmado that it received a subpoena from the US Securities and Exchange Commission (SEC) over its PayPal USD (PYUSD) stablecoin. The company wrote in its quarterly report that “on November 1, 2023, we received a subpoena from the U.S. SEC Division of Enforcement relating to PayPal USD stablecoin. The subpoena requests the production of document.”
PayPal noted that it is complying with the SEC’s demands. Subpoenas are legally binding orders for testimony, documents, or other forms of proof that federal agencies can issue during an investigation into any violations of US laws.
Thursday’s news comes months after PayPal announced the launch of its PYUSD stablecoin. PayPal USD is an Ethereum-based stablecoin that is backed by the US dollar, dollar deposits, and other cash equivalents and is issued by Paxos.
El mercado de las monedas estables es actualmente competitivo, pero Paxos afirma que PYUSD ha experimentado una adopción impresionante, alcanzando una capitalización de mercado de $150 millones unos meses después de su lanzamiento. El PYUSD figuraba en algunas de las bolsas de cifrado más destacadas, como Kraken, Coinbase, Bitstamp y Crypto.com, lo que sirvió como impulso para la nueva moneda estable.
PayPal también ha tomado medidas para ampliar el uso del PYUSD. La empresa de pagos anunció planes para integrar PYUSD con el servicio de pagos móviles Venmo. PayPal ha experimentado un gran progreso en sus ambiciones Web3 este año. El proveedor de servicios financieros entró recientemente en el Reino Unido crypto market after receiving a license from the UK’s Financial Conduct Authority.
The SEC’s subpoena to PayPal is a possible indication of the hostile regulatory environment crypto companies face in the US. Several crypto leaders have urged new start-ups to move abroad in search of more-friendly rules. The SEC has sued several leading crypto figures and platforms, such as Coinbase, Binance, and Binance’s CEO, Changpeng Zhao. The SEC accused some of these companies of violating US securities laws.
However, the federal agency has suffered a series of disappointments in its enforcement actions against crypto firms. The regulator was forced to dismiss its suit against two Ripple executives and also suffered a humiliating defeat to Grayscale. Many believe the SEC’s loss to Grayscale could pave the way for the approval of a spot Bitcoin ETF.