The U.S. Securities and Exchange Commission (SEC) has completed an audit of the PayPal-issued PYUSD stablecoin and found no violations. The company received an official notice of termination of the investigation.
Recall:
In November 2023, the SEC requested documents on PYUSD
PayPal announced cooperation with the regulator
Now the capitalization of PYUSD is ~$879 million
This is another case in a series of closed cases: the SEC previously stopped investigations against Coinbase, Ripple, Robinhood, Uniswap, Kraken, ConsenSys, Cumberland, and others.
In April, PayPal also expanded crypto support : – Added Solana and Chainlink
– In the summer, a loyalty program is launched: 3.7% per annum on deposits in PYUSD (via PayPal and Venmo)
