Maxine Waters raises alarm over PYUSD
posted 10 Aug 2023
The recent debut of PayPal's stablecoin, PYUSD, has drawn concern from Congresswoman Maxine Waters. She criticized PayPal's entry into the cryptocurrency market without a defined federal regulatory structure.
Highlighting PayPal's vast clientele, which outnumbers the combined accounts of major banks, Waters stressed the pivotal role of federal oversight in crypto dealings:
Highlighting PayPal's vast clientele, which outnumbers the combined accounts of major banks, Waters stressed the pivotal role of federal oversight in crypto dealings:
As I’ve said for more than a year, without legislation on the books that establishes clear and strong consumer protections at the Federal level, consumers are at greater risk of harm at the hands of bad actors.
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