SEC Drops PayPal’s PYUSD Stablecoin Probe With No Action

The post SEC Drops PayPal’s PYUSD Stablecoin Probe With No Action appeared first on Coinpedia Fintech News

PayPal has confirmed that the U.S. Securities and Exchange Commission has ended its investigation into the company’s U.S. dollar-backed stablecoin, PYUSD, without taking any action. In a regulatory filing on April 29, PayPal said the SEC notified them that the case was closed. The investigation began after PayPal received a subpoena from the SEC’s Division of Enforcement in November 2023. The news marks a positive step for PayPal’s crypto ambitions, clearing a regulatory cloud over PYUSD.