Payments giant PayPal says that it has received a subpoena from the U.S. Securities and Exchange Commission (SEC) over its new stablecoin.
In a new document, PayPal says that the regulatory agency has issued a subpoena over PYUSD, the firm’s dollar-backed stablecoin which launched earlier this year.
“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 documents. We are…
