Admin Posted February 11, 2023 Share Posted February 11, 2023 An anonymous reader quotes a report from Reuters: PayPal is pausing work on its stablecoin as regulators increase scrutiny of cryptocurrencies and a key partner on the project faces a probe by the New York State Department of Financial Services, Bloomberg News reported on Friday. PayPal had hoped to debut the stablecoin, which will be backed one for one by the dollar, in the coming weeks, Bloomberg reported, citing a person with knowledge of the matter. "We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators," a PayPal spokesperson said in a statement. Read more of this story at Slashdot. View the full article Quote Link to comment Share on other sites More sharing options...
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