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Payments giant PayPal revealed in its quarterly report that the U.S. SEC had issued the firm with a subpoena over its stablecoin, PYUSD. The subpoena requests the production of documents. PayPal and crypto infrastructure provider Paxos announced in August that they would enter the stablecoin race with their offering, which is expected to be pegged to the U.S. dollar and run on Ethereum. A subpoena from the SEC is a legally enforceable request for documents, testimony, or other evidence. This story is breaking and will be updated shortly. #PayPal #Stablecoin #SEC #Subpoena
You can read more about this topic here: Decrypt: SEC Served PayPal Subpoena ‘Relating’ to Firm’s Stablecoin
