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<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/paypals-pyusd-stablecoin-faces-sec-scrutiny-cryptocurrency-community-reacts/">PayPal’s PYUSD Stablecoin Faces SEC Scrutiny, Cryptocurrency Community Reacts</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p>
<p>News broke yesterday that payment giant PayPal is <a href="https://coinpedia.org/news/paypal-faces-regulatory-heat-over-pyusd-stablecoin/" rel="noopener noreferrer nofollow">under scrutiny</a> by the SEC, particularly concerning its newly launched PYUSD stablecoin, currently available in the United States. The SEC’s decision to issue a subpoena to PayPal has ignited a fierce debate within the crypto community.</p>
<h2 class="wp-block-heading" id="strong-pro-xrp-advocate-fred-rispoli-s-perspective-strong"><strong>Pro-XRP Advocate Fred Rispoli’s Perspective</strong></h2>
<p>Renowned pro-XRP lawyer Fred Rispoli suggests that PayPal’s response to the SEC’s subpoena will be a pivotal moment for the company. He believes that while complying with the regulatory request may be perceived as a sign of weakness, challenging the validity of the subpoena in court would require both courage and intelligence.&nbsp;</p>
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   <p lang="en" dir="ltr">Re: the news floating around about <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@SECGov</a> sending subpoena to <a href="https://twitter.com/PayPal?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@PayPal</a>, weakness and cowardice will have PP reaching out to .gov and complying. Bravery and intelligence will have PP aggressively contesting the validity of the subpoena itself in court.<a href="https://twitter.com/exlawyernft?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@exlawyernft</a> <a href="https://twitter.com/Belisarius2020?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Belisarius2020</a></p>— Fred Rispoli (@freddyriz) <a href="https://twitter.com/freddyriz/status/1720140559128711614?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 2, 2023</a>
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<p>Rispoli underscores the importance of establishing expectations with the SEC, paving the way for future crypto-related battles without constraints.</p>
<p>On the other side of the spectrum, SEC veteran Marc Fagel dismisses the possibility of success in challenging the SEC’s enforcement action. He cites a past incident involving Tesla CEO Elon Musk, highlighting that even the wealthiest individuals have succumbed to the SEC’s pressure in the past.</p>
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   <p lang="en" dir="ltr">There would be an approximately 0% chance of succeeding against an SEC subpoena enforcement action. We’ll see how well Elon does with that.</p>— Marc Fagel (@Marc_Fagel) <a href="https://twitter.com/Marc_Fagel/status/1720163896164855955?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 2, 2023</a>
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<h2 class="wp-block-heading" id="h-crypto-community-vs-sec"><strong>Crypto Community vs. SEC</strong></h2>
<p>Eventually, the online discussions reflect these sentiments, as many within the crypto community voice their frustrations over what they perceive as regulatory injustices and call for greater transparency from regulatory bodies.&nbsp;</p>
<p>The collective sentiment is a demand call for a fair evaluation of the situation has emerged, raising questions about the SEC’s actions and the necessity for accountability in high-stakes financial matters.</p>
<p>While the debate continues to gain momentum, the outcome of PayPal’s clash with the SEC remains uncertain. The crypto community and investors eagerly await further developments in this high-profile case.</p>

PayPal’s PYUSD Stablecoin Faces SEC Scrutiny, Cryptocurrency Community Reacts

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