The post Concerns Raised Over PayPal’s PYUSD Stablecoin Launch! appeared first on Coinpedia Fintech News
Maxine Waters, the US Congresswoman, and Chair of the House Financial Services Committee, has expressed “deep concerns” about PayPal’s recent launch of its stablecoin PYUSD without the existence of a regulatory framework. Waters claims that, given Paypal’s reach and size, federal oversight and enforcement are needed to guarantee protection to consumers and ease financial stability concerns. While stablecoins have been in existence for years, they have yet to gain significant traction within the mainstream consumer payment landscape. Stablecoin market to reach $2.8 trillion in 5 years, creating opportunities.