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– Paypal CEO is holding BTC, and BTC only: According to the website Fortune.com, when asked about the crypto, he is holding, Paypal CEO, Dan Schulman, said he is holding BTC and only BTC. In October, PayPal was the first company to withdraw from The Libra Association without giving a specific reason. The stable coin project Libra launched in June by Facebook with a total of 28 companies engaged to be part of The Libra Association, including PayPal, Visa, MasterCard, and Uber. Daniel H. Schulman, born January 19, 1958, is an American business executive. He is president and CEO of PayPal and chairman of Symantec, formerly serving as group president of enterprise growth at American Express. Paypal is a money transfer company with the market cap of $121 billion at the time of this video.
– Stablecoin is as a money transfer service: According to the cointelegraph, Director Kenneth Blanco Blanco, of The U.S. Financial Crimes Enforcement Network asserted that all stable coins are money transfer services.
“It does not matter if the stable coin is backed by a currency, a commodity, or even an algorithm – the rules are the same,” Blanco said. As by America’s anti-money laundering law, Blanco insisted stable coin administrators must register as a Money Services Business (MSB) with FinCEN, which is A branch of the Treasury Department. Consequently, FinCEN must investigate money laundering and other financial crimes by examing all transaction records and data via Stablecoin
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