Maxine Waters ‘Deeply Concerned’ That PayPal Chose To Launch Stablecoin In Absence Of US Regulations

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Rep. Maxine Waters (D-Calif.) on Wednesday expressed concerns about PayPal Holding Inc’s (NASDAQ:PYPL) entry into the dollar-pegged stablecoin market, stating that the company should have waited for federal regulatory approval. What Happened: In a written statement, Waters said, “I am deeply concerned that PayPal has chosen to launch its own stablecoin while there is still no Federal framework for regulation, oversight, and enforcement of these assets. ” Waters emphasized the need for enforcement of stablecoin operations given the size and reach of PayPal. “PayPal, with 435 million customers g…

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