Prospects for PYUSD Stablecoin in Washington D.C.: A Promising Outlook

By Cora Skindell Aug 11, 202350Views

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Is PYUSD Facing the Same Fate as Libra?

– Rep. Maxine Waters expresses concern over PayPal launching stablecoin without federal legislation
– Stablecoin industry has gained support from House Republicans
– PayPal’s actions may harden resistance from anti-crypto Democrats in the Senate
– PayPal’s PYUSD project is in a stronger political position than Libra ever was
– Financial establishment players are pushing for regulatory support in the crypto industry

Political Factors Favor PayPal’s PYUSD

– Six Democrats break ranks in support of a separate bill for crypto regulation
– Risk of gridlocked stalemate may not be as high as feared
– PYUSD is a dollar-only stablecoin, unlike Libra’s multi-currency basket
– PayPal’s global footprint is smaller than Facebook’s
– Constructive regulatory framework for stablecoins in the US is inevitable

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Cora Skindell

Cora Skindell is a standout figure in the world of cryptocurrency analysis, research, and editorial expertise. As a seasoned crypto analyst and researcher, Cora's insights delve deep into the complexities of digital assets, resonating with a diverse audience. Her ability to dissect intricate crypto concepts is complemented by her adept editorial skills, enabling her to distill complex information into easily understandable content. Cora's contributions serve as a valuable compass for both seasoned and novice individuals seeking to navigate the dynamic landscape of cryptocurrencies. With a keen eye for detail and a commitment to accuracy, she empowers informed decision-making in the ever-evolving crypto space.