Stablecoin

Coin

<ul class="news-points"> 
 <li>Maxine Waters criticized PayPal’s new stablecoin and believed that PayPal launched the stablecoin in the absence of US regulations.</li> 
 <li>Without legislation, consumers are at greater risk of harm at the hands of bad actors,” she stated.</li> 
 <li>Photos of her with Sam Bankman-Fried, the founder of FTX, were circulated on Twitter in response to her criticism.</li> 
</ul> 
PayPal’s new stablecoin received strong criticism from Maxine Waters, the top Democrat on the House Financial Services Committee. She stated that PayPal launched the stablecoin while there aren’t clear US regulations for stablecoins in <a href="https://coinedition.com/what-is-cryptocurrency-a-complete-beginners-guide/" rel="noopener noreferrer nofollow">cryptocurrency</a>. 
Waters said in a statement, “I am deeply concerned that PayPal has chosen to launch its own stablecoin while there is still no federal framework for regulation, oversight, and enforcement of these assets.” 
Stablecoins are used to reduce unpredictability compared to other volatile cryptocurrencies; however, Waters feared that consumers were at greater risk. She said, “Without legislation on the books that establishes clear and strong consumer protections at the federal level, consumers are at greater risk of harm at the hands of bad actors.” 
She added… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/paypals-stablecoin-is-harshly-criticized-by-top-democrats/">PayPal’s Stablecoin Is Harshly Criticized by Top Democrats</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

PayPal’s Stablecoin Is Harshly Criticized by Top Democrats

Coin Edition

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