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Casten Questions PayPal Over Launch of New Stablecoin
August 15, 2023
WASHINGTON, Aug. 15 -- Rep. Sean Casten, D-Illinois, issued the following news release and letter on Aug. 14, 2023:

Today, U.S. Congressman Sean Casten (IL-06) sent a letter to PayPal following the announcement of their new stablecoin, PayPal USD. In the letter, Rep. Casten asks questions seeking clarification on how PayPal and Paxos intend to issue the stablecoin while avoiding the mistakes of previous failed stablecoins, prioritizing consumer protections, and safeguarding our fina . . .

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