I don't see the overreach. Paypal, as a party that primarily transfers money, is not being held to the same standards as a bank, but is effectively operating th

I don't see the overreach. Paypal, as a party that primarily transfers money, is not being held to the same standards as a bank, but is effectively operating the same way in terms of the types of risk it is taking on with the money it holds. Calling that haphazard seems reasonable to me. No, they probably aren't holding as much of most any individual person's money as a traditional bank, but that doesn't mean the regulations aren't haphazard, it just means the downside risk to each individual is reduced. We now have stablecoins that are being forced to operate as a stablecoin should. When someone buys crypto that claim to be pegged to the dollar, there should be essentially zero risk of price movement. It's not the digital equivalent of a savings account, it's the digital equivalent of cash. I didn't expect to feel sanguine about this development when I opened the article, but as it turns out, I do.