PayPal Cleared of SEC Investigation, Expands Cryptocurrency Services

In a significant move, PayPal disclosed that the Securities and Exchange Commission (SEC) has closed its probe into its stablecoin product, PYUSD. This clearance followed a subpoena issued in late 2023 requesting information on the coin’s launch and framework. The absence of legal action allows PayPal to continue operating within regulatory guidelines while navigating the evolving landscape of stablecoins.