Reuters: Paypal received a subpoena from the SEC's enforcement division regarding PYUSD

ChainCatcher news, according to a report by Reuters, PayPal received a subpoena from the enforcement division of the U.S. Securities and Exchange Commission (SEC) regarding the PayPal USD stablecoin on November 1.

Previous report indicates that in August this year, PayPal launched the PayPal USD (PYUSD) stablecoin for transfers and payments. This stablecoin is issued by Paxos Trust Co. and is fully backed by U.S. dollar deposits, short-term government bonds, and similar cash equivalents, and will be gradually made available to PayPal's U.S. customers. The current issuance has exceeded 158 million tokens.