SEC結束了對PayPal的Pyusd Stablecoin的審查

美國證券交易委員會（SEC）已正式關閉了對Paypal Holdings，Inc。的Stablecoin PayPal USD（PYUSD）的調查。

The US Securities and Exchange Commission (SEC) has formally closed its investigation into PayPal Holdings, Inc.’s stablecoin PayPal USD (PYUSD), according to a quarterly report filed by the company for the period ending March 31, 2025.

根據該公司截至2025年3月31日的該期間，美國證券交易委員會（SEC）已正式關閉了對Paypal Holdings，Inc。的Stablecoin Paypal USD（PYUSD）的調查。

The announcement was made in a routine 10-Q filing submitted to the SEC and published on April 29. PayPal did not specify the basis of the inquiry in the filing, but confirmed that the federal regulator had concluded its review without recommending any further action.

該公告是在提交給SEC的日常10-Q申請中發表的，並於4月29日發布。貝寶沒有指定備案中調查的基礎，但確認聯邦監管機構在沒有建議採取任何進一步行動的情況下審查了其審查。

The SEC’s probe began earlier this year, aiming to examine whether PYUSD should be registered with the SEC. The inquiry also focused on the company’s crypto-related activities.

SEC的調查始於今年早些時候，目的是檢查是否應在SEC註冊Pyusd。該詢問還集中在公司的加密相關活動上。

The news severs a period of uncertainty for PayPal, which began with the introduction of PYUSD in August 2023. At the time, the company positioned it as the first major U.S. financial technology firm to issue its own stablecoin.

該新聞將貝寶（Paypal）的不確定性暫停，該時期始於2023年8月PYUSD。當時，該公司將其定位為第一家發行自己的Stablecoin的美國主要金融技術公司。

PYUSD, a stablecoin pegged to the U.S. dollar, was created in partnership with Paxos Trust Company and designed to facilitate digital payments, remittances, and e-commerce transactions. It was set to integrate with PayPal’s existing services and products, including Venmo.

Pyusd是與美元固定在一起的穩定幣，是與Paxos Trust Company合作創建的，旨在促進數字付款，匯款和電子商務交易。它計劃與PayPal的現有服務和產品（包括Venmo）集成。

Paxos’s involvement with PayPal, in addition to a stablecoin launch, caught the Gary Gensler-led SEC’s interest. Gensler’s administration has maintained that most crypto tokens, especially those digital assets linked to large corporations, fall under federal securities law.

Paxos除了發起Stablecoin之外，還參與了PayPal，這引起了加里·蓋斯勒（Gary Gensler）領導的SEC的利益。 Gensler的政府堅持認為，大多數加密代幣，尤其是與大型公司相關的數字資產屬於聯邦證券法。

PayPal opened its doors for the investigations and agreed to cooperate with the authorities.

PayPal開門進行調查，並同意與當局合作。

“The subpoena requests the production of documents. We are cooperating with the SEC in connection with this request,” it said in an end-of-2023 statement.

它在2023年底聲明中說：“傳票要求生產文件。我們正在與SEC合作就此請求而合作。”

According to the Q1 2025 filing, the SEC staff notified PayPal that it had concluded its investigation and would not be recommending any enforcement action.

根據第1季度2025年提交的文件，SEC工作人員通知Paypal，其調查已經進行了調查，並且不會建議採取任何執法訴訟。

“The staff of the SEC’s Division of Enforcement has notified us that it has concluded its investigation and does not intend to recommend any enforcement action,” PayPal noted in the legal proceedings section of the report.

PayPal在報告的“法律程序”部分指出：“美國證券交易委員會執法部門的工作人員已通知我們，它已經結束了調查，並且不打算建議採取任何執法訴訟。”

PayPal also posted its Q1 earnings, showing that it had collected $7.79 billion in net revenues, a slight increase from $7.69 billion in the same period last year. Net income reached $1.29 per diluted share, up from $1.10 a year earlier.

PayPal還發布了第一季度的收入，表明它已收取77.9億美元的淨收入，從去年同期的76.9億美元增加了略有增加。淨收入達到每股1.29美元，高於去年同期1.10美元。

As of March 31, 2025, PayPal reported holding significant investments in crypto-related entities, although exact figures related to PYUSD distribution or usage were not disclosed in the filing. The company mentioned adopting new crypto asset accounting standards at the beginning of 2025, adhering to the fair value measurement model for its crypto holdings.

截至2025年3月31日，PayPal報告說，在文件中未披露與加密相關實體的大量投資，儘管與Pyusd分佈或用法有關的確切數字尚未披露。該公司提到在2025年初採用新的加密資產會計標準，並遵守其加密貨幣的公允價值測量模型。

Moreover, the filing stated that the company was subject to various other legal and regulatory proceedings, which are still pending.

此外，文件還指出，該公司仍在其他各種法律和監管程序中仍在審理中。