“Top Cryptocurrency Trends to Watch in 2021”

**📢 Exciting News Alert!** Congresswoman Maxine Waters Shares Concerns Over PayPal’s Launch of PYUSD Stablecoin 🚀

🌟 Democratic Congresswoman Maxine Waters (D-CA) spoke out on Wednesday, questioning PayPal’s newly launched dollar-backed stablecoin, PYUSD. She believes that PayPal should have waited for federal regulatory approval before diving in. 💬

🚨 “I am deeply concerned that PayPal has chosen to launch its stablecoin without a Federal framework for regulation,” Waters stated in a written message.

🔸 PayPal made waves on Monday with the introduction of PYUSD, marking a significant milestone as a major global payment company venturing into the stablecoin realm.

🛡️ PYUSD, managed by Paxos Trust, a New York-based crypto financial services provider, is backed by deposits in U.S. dollars, short-term Treasuries, and similar liquid assets to maintain its value.

🔄 Holders of PYUSD will enjoy the flexibility of converting it into U.S. dollars within PayPal’s network, including popular cryptocurrencies like bitcoin (BTC), bitcoin cash (BCH), ether (ETH), and Litecoin (LTC).

✅ Waters, a key figure on the House Financial Services Committee, emphasized PayPal’s massive reach with 435 million global customers, surpassing the combined online account counts of major banks. 💪

Stay tuned for more updates on this evolving story! 🌈🌟

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