SEC terminates investigation into PayPal stablecoin PYUSD, takes no enforcement action

PayPal disclosed in a filing on Tuesday that the Securities Exchange Commission (SEC) has terminated its investigation into its U.S. dollar stablecoin, PYUSD, with no enforcement action. PayPal said the SEC enforcement division previously issued a subpoena for PYUSD-related documents in November 2023 and notified the investigation in February 2025 to close.