PayPal has confirmed that the SEC dropped its investigation into its U.S. dollar-pegged stablecoin, PYUSD.
The disclosure appeared in PayPal’s recent 10-Q filing, which detailed that regulators closed the case in February. The decision followed a subpoena issued in late 2023 requesting documents about the stablecoin’s launch and framework.
This outcome means PayPal avoided legal consequences while maintaining compliance under increasing regulatory scrutiny of stablecoins.
PYUSD Gains Momentum With Coinbase Collaboration
Just days before the filing, PayPal and Coinbase unveiled a new partnership. The two firms now allow users to trade PYUSD on Coinbase with no platform fees. This move aims to grow the coin’s footprint and bring more users into the ecosystem.
By eliminating fees, the partnership encourages retail adoption and positions PYUSD as a practical tool for everyday crypto transactions.
PayPal Strengthens Stablecoin Strategy in U.S. Market
The regulatory green light and Coinbase integration come at a time when PayPal is steadily expanding its crypto ambitions. While other firms battle regulatory headwinds, PayPal appears to be navigating the space with precision.
As lawmakers continue shaping U.S. stablecoin policy, PayPal’s proactive stance and cleared legal status may give it an edge.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/paypal-clears-sec-stablecoin-probe-expands-crypto-access/