PayPal is Introducing a new crypto currency and you’ll be able to buy, sell, hold, and transfer it in the app. 1 USD : 1 PYUSD on PayPal
PayPal is Introducing a new crypto currency and you’ll be able to buy, sell, hold, and transfer it in the app. 1 USD : 1 PYUSD on PayPal
Seems premature, while the SEC is still trying to treat every crypto like a security. This thing seems, on the surface, to be even more like a security than Ripple, since it’s a stablecoin and there’s an inherent promise that it will always be tied to the dollar…
Stablecoins seem like one of the least likely token types to count as a security. To be a security it has to pass the “Howey test”, which requires three criteria:
Buying a stabletoken could be argued to be “an investment of money in an common enterprise”, but I don’t see how there’s an expectation of profit derived from the efforts of others - stabletokens are specifically intended to not rise in value. If I buy a stabletoken and its value goes up it’s a failure as a stabletoken.
There’s still an expectation there, the expectation is that the return is zero. In fact, it’s the efforts of others that are ensuring the profit is zero. Isn’t zero a number?