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Dav7
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February 09, 2017, 02:52:39 PM
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Looks like PayPal is now a target for the SEC, after all the harm and acting superior as a "market dominant"....

Shares started dropping:

Quote
PayPal shares slip on subpoenas in money-laundering probe
Published: Feb 8, 2017 5:17 p.m. ET
 
PayPal Holdings Inc. PYPL, -0.17% shares declined in the extended session Wednesday after the payment-services company said it received a subpoena from the Department of Justice over a money-laundering probe. PayPal shares fell 2.2% to $39.99 after hours. In a filing with the Securities and Exchange Commission late Wednesday, the company said it received subpoenas "seeking the production of certain information related to our historical anti-money laundering program." PayPal said it is cooperating with the investigation and that it is unable to predict the government's response.

source: http://www.marketwatch.com/story/paypal-shares-slip-on-subpoenas-in-money-laundering-probe-2017-02-08


And people are realising Bitcoin is the best coin to use online on online business!

I never understood why PayPal kept harassing online business, with its policy of freezing owners money, when they are an online processor! They should help this kind of business and with that they would get more an more happy costumers!

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Nathan047
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February 09, 2017, 02:59:47 PM
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Wow, didn't see that coming. Hopefully this will give Bitcoin a boost, although I have a feeling this will be swept under the rug and in a few weeks nobody will care.

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joshy23
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February 09, 2017, 03:21:55 PM
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Why it took so long for SEC to clamp down on Paypal? Looks like SEC is looking at the money laundering scheme, Paypal has a lot of explaining to do. Or maybe SEC is targeting the users of Paypal not Paypal itself.

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cosmicblue
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February 09, 2017, 04:13:30 PM
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Good more them getting a dose of their own medicine.
Hopefully they see that all those frozen accounts are in the hands of paypal now and that would amount to a trillion dollars and that is money laundering in itself! Angry

Big dom the donkey destroyer.
Kanapka
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February 09, 2017, 04:20:56 PM
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But Bitcoin is for money laundering and all sort of illegal activities that Paypal is immune to

Isn't?

Dav7
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February 09, 2017, 05:12:36 PM
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Or maybe SEC is targeting the users of Paypal not Paypal itself.

That is what I also wanted to understand, but if was that case PayPal would want to clean is name from the moment they received the subpoena, and until now they don't disclose much.

Hopefully they see that all those frozen accounts are in the hands of paypal now and that would amount to a trillion dollars and that is money laundering in itself! Angry

Ah Ah that is a great way to see things Smiley

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February 10, 2017, 04:16:00 PM
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But Bitcoin is for money laundering and all sort of illegal activities that Paypal is immune to

Isn't?
Although the FBI might think that it is they can't subpoena a decentralized Bitcoin, but they can monitor the blockchain without a warrant or subpoena.

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