美國證券交易委員會（SEC）的PayPal USD（PYUSD）Stablecoin調查已關閉

貝寶（PayPal）已確認，美國證券交易委員會對該公司的美元固定公司Paypal USD（PYUSD）進行了調查。

PayPal's (NASDAQ:PYPL) dollar-pegged stablecoin, PYUSD, is a hot topic, and the SEC's decision not to pursue any enforcement action was confirmed by the company.

PayPal（NASDAQ：PYPL）Dollar Peggged Stablecoin Pyusd是一個熱門話題，SEC的決定不採取任何執法訴訟，該公司已得到該公司的確認。

The regulatory agency's probe into the stablecoin has concluded without any intent to take action, as revealed by PayPal in its latest quarterly report.

PayPal在其最新季度報告中透露，監管機構對Stablecoin的調查無意採取任何行動的結論。

The report, filed on April 29, states that the SEC communicated in February 2025 that it was closing this inquiry without any enforcement action.

該報告於4月29日提交的報告指出，SEC在2025年2月在未經任何執法行動的情況下關閉了此調查。

This follows an SEC subpoena in November 2023, requesting documents concerning the stablecoin.

這是在2023年11月的SEC傳票之後，要求有關Stablecoin的文件。

While the filing confirms the investigation's closure, the specific reasons behind the decision to close the inquiry without action are not disclosed in the report by either PayPal or the SEC.

儘管文件確認了調查的關閉，但貝寶（Paypal）或美國證券交易委員會（Paypal）在報告中未披露決定關閉詢問的決定背後的具體原因。

A stablecoin is a type of cryptocurrency designed to maintain a steady value, typically by pegging it 1:1 to a fiat currency like the U.S. dollar, using reserves such as short-term Treasury bills and similar cash equivalents to back the stablecoin and ensure 1:1 redeemability for U.S. dollars.

StableCoin是一種旨在維持穩定價值的加密貨幣類型，通常是通過將其1：1固定到像美元這樣的菲亞特貨幣上，使用儲備金，例如短期財政賬單和類似的現金等價物來支持StableCoin並確保1：1對美元兌換1：1。

Stablecoins are used for various purposes, including facilitating cryptocurrency transactions by pairing different tokens, enabling seamless cross-chain transfers, and serving as collateral in decentralized finance (DeFi) protocols.

穩定劑用於各種目的，包括通過配對不同的令牌，實現無縫的跨鏈轉移和作為分散融資（DEFI）方案的抵押品來促進加密貨幣交易。

PYUSD is mentioned on PayPal's official product page as being fully backed by U.S. dollar deposits, short-term Treasury bills, and similar cash equivalents, with 1:1 redeemability for U.S. dollars. It is issued and managed by Paxos Trust Company, a firm regulated by the New York State Department of Financial Services (NYDFS). PYUSD functions as an ERC-20 token on the Ethereum blockchain.

Paypal的官方產品頁面上提到了Pyusd，因為它得到了美元存款，短期財政賬單和類似現金等價的全部支持，其美元可兌換1：1。它由紐約州金融服務部（NYDFS）監管的公司Paxos Trust Company發行和管理。 Pyusd在以太坊區塊鏈上充當ERC-20令牌。

The SEC's decision regarding PYUSD follows prior agency actions involving Paxos. The SEC issued a Wells notice to Paxos in February 2023 concerning Binance USD (BUSD), another stablecoin issued by the company, alleging it was an unregistered security.

SEC關於PYUSD的決定遵循涉及Paxos的先前代理行動。 SEC在2023年2月發布了有關Binance USD（BUSD）的Wells通知，該公司是該公司發出的另一份Stablecoin，聲稱這是未註冊的安全性。

A Wells notice indicates that the SEC staff intends to recommend enforcement action. Paxos subsequently stopped issuing new BUSD following NYDFS direction.

Wells通知表明，SEC工作人員打算建議執法行動。隨後，Paxos遵循NYDFS方向發布了新的Busd。

The PYUSD probe closure also occurs amidst the SEC's broader, sometimes contentious, interactions with other crypto industry firms, including ongoing cases against Coinbase (NASDAQ:COIN) and Binance.

PYUSD探測封閉也發生在SEC與其他加密行業公司的更廣泛，有時有爭議的互動中，包括持續的針對Coinbase（NASDAQ：COIN）的案件和二元。

Recently, on April 23, PayPal announced a rewards program offering a 3.7% annual return on PYUSD holdings for eligible U.S. customers within its platform, and on April 24, it unveiled an expanded partnership with Coinbase to increase PYUSD adoption among Coinbase's user base, enabling fee-free trading and direct 1:1 redemption.

最近，在4月23日，PayPal宣布了一項獎勵計劃，在其平台內為合格的美國客戶提供了3.7％的年收益，並於4月24日公佈了與Coinbase的擴展合作夥伴關係，以增加Coinusd的採用，以增加Coinbase的用戶基礎之間的收養，從而實現了無費用的交易和無用的交易和直接1：1 enderemention。

PayPal CEO Alex Chriss remarked on the Coinbase deal, stating, "We are excited to drive new, exciting, and innovative use cases together with Coinbase and the entire cryptocurrency community, putting PYUSD at the center."

貝寶（Paypal）首席執行官亞歷克斯·克里斯（Alex Chriss）在Coinbase協議上說：“我們很高興能與Coinbase和Coinbase和整個加密貨幣社區一起開車，令人興奮和創新的用例，將Pyusd放在中心。”

This partnership has the potential to reach a vast audience, with PayPal's press release mentioning over 430 million consumer and merchant accounts.

這種合作夥伴關係有可能吸引大量的受眾，貝寶（Paypal）的新聞稿提到了超過4.3億個消費者和商人帳戶。

However, despite these efforts and a reported 75% increase in circulating supply since the start of 2025, PYUSD's market capitalization, which is the total value of its circulating supply, remains around $880 million, significantly trailing competitors like Tether (USDT) according to data from CoinGecko.

然而，儘管這些努力和據報導自2025年初以來循環供應增長了75％，但根據Coingecko的數據，Pyusd的市值（是其循環供應的總價值）仍然約為8.8億美元，其拖延了競爭對手，例如Tether（USDT）。

Since its launch, PYUSD has also become available on PayPal's Venmo platform.

自推出以來，Pyusd也已在PayPal的Venmo平台上使用。

The focus on PYUSD aligns with CEO Alex Chriss's strategy, discussed during an investor day in February, to unify operations and prioritize profitability.

對Pyusd的重點與首席執行官Alex Chriss的戰略保持一致，該戰略在2月份的投資者日期討論了，以統一運營並確定利潤優先級。

The company's first-quarter 2025 financial results surpassed analyst expectations, showing $1.33 adjusted earnings per share on $7.8 billion in revenue.

該公司第一季度的2025財務業績超過了分析師的期望，顯示1.33美元的每股調整後收入為78億美元的收入。

Nevertheless, PayPal retained its prior full-year earnings forecast, maintaining a cautious outlook. CFO Jamie Miller attributed this to the broader economic climate, stating, "Given uncertainty in the environment and the potential for a wide range of outcomes, we are appropriately cautious."

儘管如此，PayPal仍保留了以前的全年收益預測，並保持了謹慎的前景。首席財務官傑米·米勒（Jamie Miller）將其歸因於更廣泛的經濟氛圍，並說：“鑑於環境中的不確定性和各種結果的潛力，我們非常謹慎。”

This cautious outlook reflects not only economic conditions but also the complex regulatory environment PayPal navigates, which includes interactions with the FTC and CFPB in the U.S. and administrative proceedings in Germany concerning merchant terms, as detailed in its 10-Q.

這種謹慎的前景不僅反映了經濟條件，還反映了複雜的監管環境PayPal導航，其中包括與美國的FTC和CFPB的互動以及德國的行政訴訟，內容涉及商人術語，如10-Q所述。