Report: Paypal Puts Stablecoin Plans on Hold as US Regulators Crack Down on Crypto Industry
During the first week of 2023, payment service giant Paypal said it was exploring the launch of a stablecoin. At the time, an executive at Paypal stated that if the company moved forward, it would work closely with financial regulators. However, on Feb. 10, a source noted that Paypal has put the concept on hold […]
Robinhood Crypto Unit Fined in New York for Violating Money Laundering Rules
The USD 30 million penalty was imposed by the New York financial regulator in its first enforcement action on cryptocurrencies. According to the New York State Department of Financial Services, Robinhood failed to comply with regulations to prevent money laundering and ensure cyber security. The broker claims that it has made great progress in complying […]