PayPal Holdings, the financial giant that made headlines by adopting digital currencies for payments and transfers, is now facing a new development.
The company revealed that it has received a subpoena from the U.S. Securities and Exchange Commission (SEC) regarding its PYUSD stablecoin.
PayPal Faces SEC Subpoena Over PYUSD Stablecoin
This revelation came to light on November 2, when PayPal acknowledged receiving a subpoena from the U.S. SEC in its quarterly earnings report.
“On November 1, 2023, we received a subpoena from the U.S. SEC Division of Enforcement relating to PayPal USD stablecoin,” the Thursday report stated.
Although the specifics of the situation are not fully known, the company disclosed that the summon requires them to provide certain documents. PayPal has also stated it is fully collaborating with the SEC in response to this demand.
PayPal made headlines in August when it launched its PYUSD stablecoin, becoming the first major fintech company to embrace digital c
We współpracy z: https://cryptopotato.com/sec-issues-subpoena-to-paypal-over-its-pyusd-stablecoin/
