PayPal introduces new reason for fines and bans
RTAPR 2022
Though past stablecoins have certainly not being entirely successful, PayPal, which has a history in the crypto world, will help bring legitimacy to the emerging financial industry as the company will be cautious amid regulatory suspicion, as well as back the coin with the reliable dollar. Consumers can now have faith in the privacy and stability of banking with crypto.
While PayPal may bring some nominal legitimacy to this young industry, we can't forget the fact that Facebook has already tried and abandoned its own stablecoin, and PayPal itself has previously paused its launch due to regulatory pushback. No one can put all their eggs in the stablecoin basket until the both the private and public sectors can provide evidence of its safety.