SEC drops investigation into PayPal’s stablecoin

Payments giant PayPal said in a regulatory filing that its PayPal USD stablecoin is no longer in the SEC’s crosshairs.

PayPal says the US Securities and Exchange Commission has abandoned its investigation into the payment giant’s US-dollar stablecoin.

PayPal said in an April 29 regulatory filing that the SEC concluded its investigation into PayPal USD (PYUSD) and wouldn’t be taking any action.

The company said it received a subpoena from the SEC’s Division of Enforcement over its stablecoin in November 2023. 

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