Nov 2, 2023

PayPal (PYPL) said in a filing that the company received a subpoena from the U.S. Securities and Exchange Commission (SEC) requesting documentation about its USD stablecoin.

Video transcript

Think that it's just the sec poking and prodding around. But I think that it, it just, you gotta keep in mind that if you're in the Cryptocurrency space, you better be doing things by the book, you better be doing things right? Because the SEC is gonna continue to look around, they're gonna be, continue to try to find stuff because what we don't want is we don't want another like FTX situation, right? Where, where something just blows up. So they're, they're, they're paying closer attention. They're gonna look at the, the outliers, but they're gonna look at the mainstream companies too. So you just have to make sure that you're doing things, right? Uh I don't think, see it as uh harmful to paypal. I mean, they're up like 7% free market today. So, uh the market doesn't really seem to care about it. Uh So until we hear something good or bad, you know, uh there's no reason for us to really care about it either at this point.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.