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SEC subpoenas PayPal over its USD-pegged stablecoin

SEC subpoenas PayPal over its USD-pegged stablecoin

PayPal PayPal, the global payments leader, is currently facing scrutiny from the U.S. Securities and Exchange Commission (US SEC) regarding its PayPal USD (PYUSD) stablecoin.What is PYUSD?PYUSD is a stablecoin pegged to the U.S. dollar, introduced by PayPal in August. This marked a significant milestone as a major financial services firm ventured into this market