PayPal Faces Regulatory Scrutiny Over PYUSD Stablecoin and Venmo Issues
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PayPal received an SEC subpoena regarding its PYUSD stablecoin as indicated in its Q3 earnings filing. The SEC is requesting documents.
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PayPal also received requests from the CFPB related to unauthorized Venmo transfers and collections processes.
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Major exchanges have listed PYUSD and PayPal integrated it into Venmo in September 2023.
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PayPal received a license from the UK's Financial Conduct Authority to offer crypto services in the country.
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PayPal is undergoing leadership changes - Jamie Miller as new CFO, Sri Shivananda leaving as CTO by end of year.