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SEC Closes Probe Into PayPal’s PYUSD Stablecoin Without Enforcement Action
SEC Closes Probe Into PayPal’s PYUSD Stablecoin Without Enforcement Action
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The U.S. Securities and Exchange Commission has dropped its investigation into PayPal’s dollar-pegged stablecoin, PYUSD, according to a regulatory filing. The probe, initiated in November 2023, concluded without any enforcement measures. PayPal confirmed full cooperation throughout the process.
Launched in August 2023, PYUSD is marketed as a fully backed stablecoin redeemable for U.S. dollars, supported by cash reserves and short-term treasuries. The closure of the SEC inquiry removes a regulatory overhang for one of the few major fintech firms to issue a stablecoin.
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