PayPal’s New Stablecoin Draws Harsh Rebuke From Maxine Waters
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Representative Maxine Waters
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Maxine Waters, the top Democrat on the House Financial Services Committee, criticized PayPal Holdings Inc.’s launch this week of a stablecoin in the absence of US regulation for that corner of the cryptocurrency world.
“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,” Waters said in a statement Wednesday.