PayPal Subpoenaed by the SEC Over Its PYUSD Stablecoin
"On Nov. 1, 2023, we received a subpoena from the U.S. SEC Division of Enforcement relating to PayPal USD stablecoin. The subpoena requests the production of documents. We are cooperating with the SEC in connection with this request," PayPal revealed in its quarterly earnings report.
- "PayPal said it was cooperating with the subpoena, which came from the SEC's Enforcement Division and asked for the production of documents."
- In early August, PayPal launched PYUSD, a stablecoin issued by Paxos Trust Company and backed by U.S. dollar deposits.
Reuters Article / Archive
TechCrunch Article / Archive
Q3 Report / Archive
