PayPal’s new PYUSD stablecoin faces legal headwinds and ‘less functionality’ By Cointelegraph
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Although a clear regulatory framework for digital assets has yet to be established in the United States, PayPal (NASDAQ:) — one of America’s largest financial technology companies — announced on Aug. 7 its U.S. dollar-pegged payment stablecoin, PayPal USD (PYUSD).
A PayPal spokesperson told Cointelegraph that PYUSD is important because mainstream adoption of future digital experiences will require a stable digital instrument that is crypto-native and easily connected to fiat. Despite the unclear regulatory environment for digital assets in the U.S., the spokesperson said:
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Although a clear regulatory framework for digital assets has yet to be established in the United States, PayPal (NASDAQ:) — one of America’s largest financial technology companies — announced on Aug. 7 its U.S. dollar-pegged payment stablecoin, PayPal USD (PYUSD).
A PayPal spokesperson told Cointelegraph that PYUSD is important because mainstream adoption of future digital experiences will require a stable digital instrument that is crypto-native and easily connected to fiat. Despite the unclear regulatory environment for digital assets in the U.S., the spokesperson said:
Continue Reading on Coin Telegraph
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