{"id":19544,"date":"2025-04-30T05:46:52","date_gmt":"2025-04-30T05:46:52","guid":{"rendered":"https:\/\/gold.creditcard\/sec-drops-investigation-into-paypals-stablecoin\/"},"modified":"2025-04-30T05:46:52","modified_gmt":"2025-04-30T05:46:52","slug":"sec-drops-investigation-into-paypals-stablecoin","status":"publish","type":"post","link":"https:\/\/gold.creditcard\/es\/sec-drops-investigation-into-paypals-stablecoin\/","title":{"rendered":"SEC drops investigation into PayPal\u2019s stablecoin"},"content":{"rendered":"

PayPal says the US Securities and Exchange Commission has abandoned its investigation into the payment giant\u2019s US-dollar stablecoin.<\/p>\n

PayPal said in an April 29 regulatory filing<\/a> that the SEC concluded its investigation into PayPal USD (PYUSD) and wouldn\u2019t be taking any action.<\/p>\n

The company said it received a subpoena from the SEC\u2019s Division of Enforcement over its stablecoin in November 2023.\u00a0<\/p>\n

\u201cThe subpoena requests the production of documents. We are cooperating with the SEC in connection with this request,\u201d PayPal<\/a> stated at the time.<\/p>\n

In its latest filing, the firm said the SEC notified it in February that the agency \u201cwas closing this inquiry without enforcement action.\u201d<\/p>\n

PayPal has said its stablecoin is 100% redeemable for US dollars and \u201cfully backed\u201d by dollar deposits, including short-term treasuries and cash equivalents.\u00a0<\/p>\n

However, the stablecoin has struggled to gain momentum in a crowded market dominated by rivals Tether and Circle. PYUSD has a market capitalization of just $880 million, less than 1% of Tether\u2019s (USDT<\/a>) $148.5 billion.<\/p>\n

PayPal\u2019s stablecoin has seen better growth this year with a 75% increase in PYUSD circulating supply since the beginning of 2025, according<\/a> to CoinGecko. It remains down 14% from its peak supply of just over $1 billion in August 2024.\u00a0<\/p>\n

PayPal USD market capitalization. Source: <\/em>CoinGecko<\/em><\/a><\/p>\n

Earnings on PYUSD, Coinbase partnership<\/h2>\n

That growth could be bolstered by a company announcement<\/a> on April 23 introducing rewards for PYUSD in a new loyalty offering that will enable US users to earn 3.7% annually for holding the asset on the platform.\u00a0<\/p>\n

Meanwhile, on April 24, PayPal announced<\/a> a partnership with Coinbase to increase the adoption of PYUSD.\u00a0<\/p>\n

\u201cWe are excited to drive new, exciting, and innovative use cases together with Coinbase and the entire cryptocurrency community, putting PYUSD at the center,\u201d\u00a0 said Alex Chriss, PayPal President and CEO.<\/p>\n

Related: <\/strong><\/em>PayPal to offer 3.7% yield on stablecoin balances: Report<\/strong><\/em><\/a><\/p>\n

The payments giant also reported robust first-quarter earnings and the completion of significant share repurchase activities.\u00a0<\/p>\n

The firm beat Wall Street estimates, earning $1.33 per share in the first quarter, topping analyst expectations of $1.16. Revenue rose 1% from a year before to $7.8 billion.\u00a0<\/p>\n

Magazine: <\/strong><\/em>Bitcoin $100K hopes on ice, SBF\u2019s mysterious prison move: Hodler\u2019s Digest<\/strong><\/em><\/a><\/p>","protected":false},"excerpt":{"rendered":"

PayPal says the US Securities and Exchange Commission has abandoned its investigation into the payment giant\u2019s US-dollar stablecoin. PayPal said in an April 29 regulatory filing that the SEC concluded its investigation into PayPal USD (PYUSD) and wouldn\u2019t be taking any action. The company said it received a subpoena from the SEC\u2019s Division of Enforcement […]<\/p>","protected":false},"author":0,"featured_media":19545,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[9],"tags":[],"class_list":["post-19544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-finance"],"_links":{"self":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/19544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/comments?post=19544"}],"version-history":[{"count":0,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/19544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media\/19545"}],"wp:attachment":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media?parent=19544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/categories?post=19544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/tags?post=19544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}