The U.S. Securities and Exchange Commission (SEC) closed its inquiry into PayPal's PYUSD stablecoin without recommending enforcement action, as announced on May 3, 2025. This decision removes a significant regulatory overhang that had been impacting PayPal's cryptocurrency initiatives.
PayPal had received a subpoena in late 2023 regarding its dollar-backed stablecoin, creating uncertainty around its future. The closure of this probe validates PayPal's approach to PYUSD and provides regulatory clarity for its digital asset strategy.
This development is expected to pave the way for PayPal to push deeper into blockchain-based payments and crypto, encouraging broader adoption and utility of PYUSD. It signals a more benign regulatory environment for stablecoins, which could benefit the entire crypto industry.
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