U.S. Democratic Leader Maxine Waters Concerned About PayPal Stablecoin
08/10 00:11
Maxine Waters, the leader of the Democratic Party in the US House of Representatives, expressed concerns about PayPal's launch of stablecoins without a federal regulatory framework this week.In a statement on Wednesday, Waters said, "PayPal has 435 million customers worldwide, more than the total number of online accounts of all major banks. Given PayPal's scale and scope of influence, federal government oversight and enforcement of its stablecoin business is crucial to ensuring consumer protection and mitigating financial stability concerns."
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