Close Menu
Global News HQ
    What's Hot

    Bigger than Coca-Cola? If Tether went public, it could reach a $515B valuation

    June 8, 2025

    Essential Backyard Pond Maintenance Tips for Every Season

    June 8, 2025

    Central Saint Martins B.A. Fall 2025 Ready-to-Wear Collection

    June 8, 2025
    Recent Posts
    • Bigger than Coca-Cola? If Tether went public, it could reach a $515B valuation
    • Essential Backyard Pond Maintenance Tips for Every Season
    • Central Saint Martins B.A. Fall 2025 Ready-to-Wear Collection
    • NYT Connections Sports Edition today: Hints and answers for June 8, 2025
    • How to watch the 2025 Tony Awards live online, on a phone, or on TV, including free options
    Facebook X (Twitter) Instagram YouTube TikTok
    Trending
    • Bigger than Coca-Cola? If Tether went public, it could reach a $515B valuation
    • Essential Backyard Pond Maintenance Tips for Every Season
    • Central Saint Martins B.A. Fall 2025 Ready-to-Wear Collection
    • NYT Connections Sports Edition today: Hints and answers for June 8, 2025
    • How to watch the 2025 Tony Awards live online, on a phone, or on TV, including free options
    • UK prioritises health and defence as other budgets face squeeze
    • Allegiant adds 5 new domestic routes that aren’t operated by any other airline – The Points Guy
    • I tested a Pixel Tablet without any Google apps, and it's more private than even my iPad
    Global News HQ
    • Technology & Gadgets
    • Travel & Tourism (Luxury)
    • Health & Wellness (Specialized)
    • Home Improvement & Remodeling
    • Luxury Goods & Services
    • Home
    • Finance & Investment
    • Insurance
    • Legal
    • Real Estate
    • More
      • Cryptocurrency & Blockchain
      • E-commerce & Retail
      • Business & Entrepreneurship
      • Automotive (Car Deals & Maintenance)
    Global News HQ
    Home - Cryptocurrency & Blockchain - SEC Drops Probe Into PayPal’s PYUSD Stablecoin – Decrypt
    Cryptocurrency & Blockchain

    SEC Drops Probe Into PayPal’s PYUSD Stablecoin – Decrypt

    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
    SEC Drops Probe Into PayPal’s PYUSD Stablecoin – Decrypt
    Share
    Facebook Twitter LinkedIn Pinterest Email



    In brief

    • PayPal says the SEC ended its 15-month investigation into PYUSD in February with no action taken.
    • The inquiry began in November 2023 with a subpoena requesting internal documents on the stablecoin.
    • The decision comes as Congress advances two major bills, the STABLE and GENIUS Acts, to regulate U.S. dollar-backed stablecoins.

    PayPal has emerged from a Securities and Exchange Commission (SEC) investigation into its stablecoin operations unscathed after nearly two years of regulatory scrutiny.

    The payments giant disclosed in a Wednesday filing that the SEC had informed the company in February it was “closing this inquiry without enforcement action,” effectively ending its investigation into the PayPal USD (PYUSD) stablecoin.

    The regulator’s subpoena to PayPal, sent in November 2023, “requested the production of documents” relating to its stablecoin, according to the company’s quarterly report at the time.

    While the details were not made public, such subpoenas typically seek internal communications, reserve documentation, and legal assessments, which are standard tools for evaluating potential securities violations.

    What is PYUSD?

    Issued by Paxos Trust and launched on Ethereum, PayPal’s PYUSD stablecoin is backed by short-term Treasuries, dollar deposits, and cash equivalents.

    Despite its strong branding, PYUSD initially struggled to gain traction in a market dominated by giants like Tether (USDT) and Circle (USDC).

    The stablecoin’s market cap now stands at roughly $880 million, up from under $500 million at the start of the year, as per CoinGecko data.

    In efforts to expand PYUSD’s reach, just last week, PayPal announced a partnership with global crypto exchange Coinbase.

    The partnership will integrate PYUSD across Coinbase’s platform, allowing users to buy, sell, and trade the stablecoin with no fees and redeem it 1:1 for U.S. dollars.

    SEC pivot continues

    The regulator’s decision to abandon its probe into PYUSD is part of a broader regulatory thaw under the Trump administration’s newly restructured SEC.

    The dropped probe marks yet another reversal by the SEC as it backs away from the aggressive “regulation-by-enforcement” strategy that defined the former SEC chair Gary Gensler’s era.

    Now led by a newly empowered crypto task force under Commissioner Hester Peirce, the agency has softened its stance, recently closing cases against Coinbase, Robinhood Crypto, Uniswap Labs, and NFT marketplace OpenSea, among others.

    Bipartisan focus on stablecoins

    The SEC’s decision also arrives as lawmakers ramp up efforts to regulate the stablecoin sector.

    In early April, the House Financial Services Committee advanced the STABLE Act, which would require dollar-backed stablecoins to be fully collateralized, redeemable, and issued only by approved entities under federal oversight.

    Meanwhile, the Senate’s GENIUS Act, which also passed committee, proposes a dual-track framework allowing both state and federally chartered issuers.

    Both bills seek to provide clear rules for reserves, redemption rights, and anti-money laundering standards, though they differ on how much power state regulators should retain.

    While neither bill has yet become law, the legislative push signals bipartisan urgency to rein in stablecoins without stifling innovation.

    Daily Debrief Newsletter

    Start every day with the top news stories right now, plus original features, a podcast, videos and more.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    Previous ArticleWhere We’d Invest in Real Estate in 2025 (If We Could Buy Anywhere)
    Next Article Canada is a warning to Britain’s Trump-loving Tories

    Related Posts

    Bigger than Coca-Cola? If Tether went public, it could reach a $515B valuation

    June 8, 2025

    ‘Bitcoin Family’ revamps security after crypto crime wave

    June 8, 2025

    Cudis Bets on Wearables, AI and a Solana Token to Drive the Longevity Movement – Decrypt

    June 8, 2025

    DappRadar: DeFi and NFT Upticks in May Could Mark Start of Recovery

    June 8, 2025
    Leave A Reply Cancel Reply

    ads
    Don't Miss
    Cryptocurrency & Blockchain
    3 Mins Read

    Bigger than Coca-Cola? If Tether went public, it could reach a $515B valuation

    A recent analysis posted by Artemis CEO Jon Ma has sparked discussion about Tether’s potential…

    Essential Backyard Pond Maintenance Tips for Every Season

    June 8, 2025

    Central Saint Martins B.A. Fall 2025 Ready-to-Wear Collection

    June 8, 2025

    NYT Connections Sports Edition today: Hints and answers for June 8, 2025

    June 8, 2025
    Top
    Cryptocurrency & Blockchain
    3 Mins Read

    Bigger than Coca-Cola? If Tether went public, it could reach a $515B valuation

    A recent analysis posted by Artemis CEO Jon Ma has sparked discussion about Tether’s potential…

    Essential Backyard Pond Maintenance Tips for Every Season

    June 8, 2025

    Central Saint Martins B.A. Fall 2025 Ready-to-Wear Collection

    June 8, 2025
    Our Picks
    Cryptocurrency & Blockchain
    3 Mins Read

    Bigger than Coca-Cola? If Tether went public, it could reach a $515B valuation

    A recent analysis posted by Artemis CEO Jon Ma has sparked discussion about Tether’s potential…

    Home Improvement & Remodeling
    4 Mins Read

    Essential Backyard Pond Maintenance Tips for Every Season

    Key Takeaways Most backyard ponds require weekly maintenance, especially those housing koi fish, to maintain…

    Pages
    • About Us
    • Contact Us
    • Disclaimer
    • Homepage
    • Privacy Policy
    Facebook X (Twitter) Instagram YouTube TikTok
    • Home
    © 2025 Global News HQ .

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version