.PayPal has back-pedalled on stablecoin plans
PayPal has had an increased interest in crypto in recent years, but regulatory actions against crypto firms have caused the company to pause its stablecoin development.Stark has been a staunch cryptocurrency critic. He recently attributed market manipulation to Bitcoin's recent resurgence. However, some suggested that macroeconomic trends were responsible for Bitcoin's momentum.
The former SEC official also recently tweeted that Bitcoin could be an unregistered security, referencing a Twitter thread about Bitcoin mining centralization.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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