SEC Drops Investigation Into PayPal's PYUSD Stablecoin, Imposes No Penalties
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💥 PayPal's Stablecoin Doubts Eased by SEC
Good news for PayPal and the crypto world! The U.S. Securities and Exchange Commission (SEC) announced it is dropping its investigation into PayPal's dollar-backed crypto asset – PayPal USD (PYUSD). After receiving a subpoena in November 2023, PayPal breathes a sigh of relief as the SEC will not take any legal action[1][2][3][4].
The probe, which sought information on PYUSD activities and involved multiple document requests, did not uncover any wrongdoing on PayPal or its partner Paxos' part. PYUSD,Live since August 2023, is backed by US dollar deposits, short-term US Treasuries, and cash equivalents[1][3].
While this decision signals a more lenient stance on stablecoins under the current SEC leadership, the SEC views many tokens as securities according to former chair Gary Gensler[1][3]. With the inquiry's conclusion, PayPal and Paxos can move forward without the weight of potential legal troubles.
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Sources:
[1] Money.com[2] Cointelegraph[3] The Block[4] The Wall Street Journal[5] Cointelegraph[6] Newzoo[7] TechCrunch[8] PRNewswire[9] Cointelegraph[10] Yahoo! Finance[11] BusinessWireCopyright © 2025 Crypto Buzz
- The Securities and Exchange Commission's (SEC) decision to drop its investigation into PayPal's dollar-backed cryptocurrency, PayPal USD (PYUSD), is a relief for both PayPal and its partner Paxos, and signals a more lenient stance on stablecoins under the current SEC leadership.
- The blockchain T-Rex, a newly introduced purpose-built blockchain, has secured $17 million in funding, with the aim of targeting the attention layer in Web 3.0.
- MultiBank Group has announced plans to tokenize $3 billion in real estate assets, using MAG, as they prepare for MBG's launch, demonstrating the growing trend of tokenizing real-world assets.
- Ethereum, along with Bitcoin, altcoins, finance, trading, NFTs, blockchain, and more, are part of the big picture in the ever-evolving world of cryptocurrency and finance.
- In the real-world asset era, Casper 2.0 has officially launched on the mainnet, positioning the Casper Network for future opportunities.
