PayPal has announced that the SEC has closed its investigation into the company's US dollar stablecoin without taking any action.
In an April 29 regulatory filing, PayPal disclosed that the SEC had ended its investigation into PayPal USD (PYUSD).
The investigation began with a subpoena from the SEC's Division of Enforcement in November 2023, requesting documents related to the stablecoin. PayPal stated at the time that it was fully cooperating with the SEC.
In the latest filing, PayPal indicated that the SEC informed them in February that the investigation had concluded without any enforcement action.