PayPal pauses stablecoin work amid regulatory scrutiny of crypto - Bloomberg News

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FILE PHOTO: A smartphone with the PayPal logo is placed on a laptop in this illustration taken on July 14, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - PayPal Holdings Inc 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, Bloomberg News reported on Friday.

PayPal had hoped to debut the stablecoin, which will be backed one for one by the dollar, in the coming weeks, Bloomberg reported, citing a person with knowledge of the matter.

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Symbol	Open	High	Low	Last	Chg	%Chg	Vol ('00)
HSI-CWEQ	0.165	0.165	0.145	0.145	-0.020	-12.12	1,364,557
HSI-CWEH	0.225	0.225	0.210	0.210	-0.015	-6.67	1,236,585
HSI-CWGA	0.120	0.120	0.100	0.105	-0.015	-12.50	712,237
MYEG	0.925	0.945	0.920	0.945	0.015	1.61	641,524
HSI-PWFI	0.110	0.115	0.110	0.115	0.005	4.55	464,858
HSI-PWFS	0.105	0.105	0.100	0.105	0.000	0.00	445,535
HSI-PWHB	0.085	0.090	0.085	0.085	0.000	0.00	444,509
TANCO	1.000	1.030	1.000	1.030	0.030	3.00	394,194
GAMUDA	4.750	4.790	4.720	4.770	0.030	0.63	279,786
HSI-CWC6	0.215	0.220	0.195	0.195	-0.020	-9.30	266,154
KPJ	2.780	2.810	2.750	2.750	-0.030	-1.08	252,777
SAG	0.695	0.720	0.685	0.710	0.010	1.43	228,050
YINSON	2.100	2.390	2.090	2.340	0.240	11.43	227,720
SEACERA	0.055	0.060	0.030	0.035	-0.030	-46.15	214,841
YTL	2.030	2.060	1.980	2.050	0.020	0.99	210,229

PayPal pauses stablecoin work amid regulatory scrutiny of crypto - Bloomberg News