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SEC Drops PayPal’s PYUSD Stablecoin Probe With No Action
SEC Drops PayPal’s PYUSD Stablecoin Probe With No Action
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The U.S. Securities and Exchange Commission has closed its investigation into PayPal’s dollar-backed stablecoin, PYUSD, without enforcement action. The agency notified PayPal of the decision in a regulatory filing dated April 29, ending a probe that began with an SEC subpoena in November 2023.
This resolution removes a key regulatory overhang for PayPal’s cryptocurrency ambitions. The payment giant’s foray into stablecoins now faces clearer regulatory waters, potentially accelerating mainstream adoption of blockchain-based dollar equivalents.
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