US SEC has terminated investigation into PayPal stablecoin PYUSD

PANews April 30th news, according to Cryptonews, the U.S. Securities and Exchange Commission (SEC) has terminated its investigation into PayPal stablecoin PYUSD and has not taken law enforcement action. PayPal said in a document disclosed on May 1 that the SEC law enforcement department issued a document subpoena in November 2023 and notified it to end the investigation in February 2025. PayPal reminded in the document that future legislation may bring new compliance costs to stablecoin issuers, and if the partner is involved in litigation or PYUSD is used for illegal transactions, it may cause reputation risks. The termination of the investigation may alleviate institutional concerns about stablecoins in the short term.