The US Securities and Exchange Commission (SEC) closes its research in the dollar-supported crypto-asset-published by the payment giant PayPal.
In August 2023, PayPal introduced the PayPal USD (Pyusd) Stablecoin to take advantage of the potential of Web3 payments.
The active support is supported by American dollar deposits, short-term American treasury and similar casequivalents.
By November PayPal issued a statement stating that the securities ruler Pyusd investigated and had dated documents with regard to the asset. The company also expressed its concern about the regulatory uncertainty about Stablecoins.
Almost two years after receipt of the summons, PayPal says that Securities Waakhond will no longer follow the investigation. In a form 10-q submitted to the SEC on April 29, PayPal says that the supervisor does not take legal action.
“In November 2023 we received a summons of the US SEC department enforcement with regard to PayPal USD Stablecoin. The summons asked for the production of documents. In February 2025 the SEC communicated that this investigation closed without enforcement action.”
The development comes in the midst of reports that PayPal intends to offer Pyusd users rewards to stimulate the acceptance of the Stablecoin.
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