SEC结束了对PayPal的Pyusd Stablecoin的审查

美国证券交易委员会（SEC）已正式关闭了对Paypal Holdings，Inc。的Stablecoin PayPal USD（PYUSD）的调查。

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.

根据该公司截至2025年3月31日的该期间，美国证券交易委员会（SEC）已正式关闭了对Paypal Holdings，Inc。的Stablecoin Paypal USD（PYUSD）的调查。

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.

该公告是在提交给SEC的日常10-Q申请中发表的，并于4月29日发布。贝宝没有指定备案中调查的基础，但确认联邦监管机构在没有建议采取任何进一步行动的情况下审查了其审查。

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的调查始于今年早些时候，目的是检查是否应在SEC注册Pyusd。该询问还集中在公司的加密相关活动上。

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.

该新闻将贝宝（Paypal）的不确定性暂停，该时期始于2023年8月PYUSD。当时，该公司将其定位为第一家发行自己的Stablecoin的美国主要金融技术公司。

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是与美元固定在一起的稳定币，是与Paxos Trust Company合作创建的，旨在促进数字付款，汇款和电子商务交易。它计划与PayPal的现有服务和产品（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除了发起Stablecoin之外，还参与了PayPal，这引起了加里·盖斯勒（Gary Gensler）领导的SEC的利益。 Gensler的政府坚持认为，大多数加密代币，尤其是与大型公司相关的数字资产属于联邦证券法。

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

PayPal开门进行调查，并同意与当局合作。

“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年底声明中说：“传票要求生产文件。我们正在与SEC合作就此请求而合作。”

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.

根据第1季度2025年提交的文件，SEC工作人员通知Paypal，其调查已经进行了调查，并且不会建议采取任何执法诉讼。

“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在报告的“法律程序”部分指出：“美国证券交易委员会执法部门的工作人员已通知我们，它已经结束了调查，并且不打算建议采取任何执法诉讼。”

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还发布了第一季度的收入，表明它已收取77.9亿美元的净收入，从去年同期的76.9亿美元增加了略有增加。净收入达到每股1.29美元，高于去年同期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报告说，在文件中未披露与加密相关实体的大量投资，尽管与Pyusd分布或用法有关的确切数字尚未披露。该公司提到在2025年初采用新的加密资产会计标准，并遵守其加密货币的公允价值测量模型。

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

此外，文件还指出，该公司仍在其他各种法律和监管程序中仍在审理中。