In a regulatory filing on the 29th (local time), PayPal officially announced that the SEC had concluded its investigation into PYUSD and had decided not to take any enforcement action.
The company said in the document that the SEC notified it in February of this year that it was closing its investigation into the matter without taking enforcement action.
The investigation was launched after the Enforcement Bureau of the People's Democratic Party sent a subpoena to PayPal. At the time, PayPal said it was cooperating with the request.
PayPal has explained that PYUSD is 100% redeemable in US dollars and is fully collateralized by short-term government securities and cash equivalents.
However, its position in the market is still weaker than Tether and Circle's USDC.
SD’s market capitalization is around $880 million, less than 1% of Tether’s. Nevertheless, PYUSD has seen rapid growth this year. According to Coingeco:
Since the beginning of the year, PYUSD circulation has increased by about 75%, and while it is still short of the $1 billion level recorded in August 2024, it is showing signs of recovery.
2025/04/30 17:30 KST
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