Crypto: PayPal Doesn't Back Down an Inch in the Face of the SEC

Just yesterday pinned, today fearless. PayPal has thrown down the gauntlet to authorities by asserting its determination to continue its blockchain innovations. Let’s analyze this statement that sounds like a declaration of war.

A Middle Finger to the Financial Watchdogs

Two weeks ago, the SEC summoned PayPal to appear, demanding information about its PYUSD stablecoin. A regulatory offensive that could have prompted the payment giant to lie low.

But that underestimated PayPal’s tenacity. Yesterday, the company published an open letter affirming its belief that blockchain is “the new financial rails,” and it did so through a crypto media outlet.

Despite the pressure, PayPal keeps its head high, ready to proclaim its beliefs. According to Mirror, a web3 site, it is convinced that the blockchain is “the new rail” and that stablecoins like PYUSD can “deliver on the promise of crypto”.

For PayPal, this is not just a trend, but a certainty: “Blockchain is the only technology capable of revolutionizing payments.”

Signs of an Aggressive Crypto Strategy

Is it just a simple defiance against regulators? Or is PayPal nurturing grand blockchain designs? Some signs indicate that the American giant may accelerate its innovations in the crypto ecosystem.

Not long ago, PayPal filed a patent for a system of purchasing and transferring NFTs. The company is also reportedly working on solutions for tokenizing real-world assets on the blockchain.

All these indicators show that PayPal remains determined to take advantage of this technology, despite the hurdles. The aggressive stance adopted yesterday on Mirror resembles a declaration of war: its passion for crypto is unshakable, and it is ready to go all the way.