What happened to PayPal's stablecoin?

PayPal is pausing work on its stablecoin as regulators increase scrutiny of cryptocurrencies and a key partner on the project faces a probe by the New York State Department of Financial Services. PayPal had hoped to debut the stablecoin, which will be backed one for one by the dollar, in the coming weeks. (REUTERS)

Should stablecoins and cryptocurrencies be regulated?

In a statement, the chairman of the Senate Banking Committee said the collapse of TerraUSD is another reason for Congress and regulators to bring stablecoins and cryptocurrencies into the regulatory fold.

What role do stablecoins play in crypto-asset markets?

Stablecoins are in the spotlight due to their rapid growth, increasing global use cases and potential financial risk contagion channels. This article analyses the role played by stablecoins within the wider crypto-asset ecosystem and finds that some existing stablecoins are already critical to liquidity in crypto-asset markets.

How do stablecoins work in the EU?

Activity varies considerably between EU Member States. Services related to stablecoins in the EU mainly consist of acquisition, holding or selling via different means, while the availability of services for spending stablecoins at merchants is currently limited.