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PayPal’s stablecoin could improve payments as well as regulation
PayPal’s announcement that it will launch a stablecoin – a crypto token with its value tied to the dollar – shook up the insular world of payments and the Washington regulatory community. This move is important for three reasons. First, it is a significant test of whether crypto technology can bring benefits to the real economy. Second, it could bring much-needed competition to the payments industry. And third, it could help bring about what Washington has thus far been unable to achieve – a federal regulatory framework for stablecoins. That can help reduce risk and maximise opportunities of this new ... (full story)