This is the end. There Securities and Exchange Commission (Dry) of the United States has just put an end to its investigation On the Stablecoin Pyusd of Paypal without taking coercive measures. This decision marks an important step for Paypal, which had received a assignment from the SEC in November 2023 requesting information on its stablecoin. HAPPY END for the payments giant on the backdrop of softening of regulation in the USA.
- The SEC ended its investigation into the stablecoin Pyusd of Paypal without taking coercive measures.
- Paypal received an assignment in 2023, but the survey was closed without pursuit, allowing the company to focus on the development of the Pyusd.
The dry closes his investigation into the Pyusd
In a document deposited with the dry, Paypal therefore declared that the agency had informed him in February of the closure of theinvestigation concerning the assignment of 2023 linked to the Pyusd, and this, « Without coercive action ». This assignment requested the production of documents relating to the stablecoin of Paypal, but ultimately did not resolve prosecution.
Paypal had launched the Pyusd In August 2023, but quickly attracted the attention of the dry. The assignment of 2023 was perceived as an attempt by the agency to better understand the functioning of the stablecoin and to ensure its compliance with financial regulations.
There SEC Decision not to continue Paypal is a good news For the company, which seeks to strengthen the position of its stablecoin on the market. With a capitalization of $ 879.9 million, the Pyusd Remains far behind its competitors such as the USDT of Tether or the USDC of Circle.
Good news for Paypal and its stablecoin
Yet, Paypal multiplies initiatives to promote its stable. Recently, the company announced a partnership with Cornerbase To eliminate transaction costs on the Pyusd, allowing users to buy, sell and exchange this stable coin free on the Brian Armstrong platform.
Moreover, Paypal extended the availability of Pyusd to other blockchains like Solana and has established partnerships with key players in crypto industry, such asDigital anchorage And Moonpayto facilitate the adoption of his stablecoin.
Although the SEC decision is a victory for Paypal, the path remains long to make the Pyusd a serious competitor to the giants of the Stablecoins market. However, with the end of this survey, Paypal can now fully focus on the development and promotion of its stablecoin Without fear of major regulatory repercussions.