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Posted by
Two Blokes May 1 -
Filed in
Crypto
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The U.S. Securities and Exchange Commission (SEC) is closing its inquiry into the dollar-backed crypto asset issued by the payments giant PayPal. In August 2023, PayPal introduced the PayPal USD (PYUSD) stablecoin to capitalize on the potential of Web3 payments. The asset is backed by US dollar deposits, short-term US Treasuries and similar cash equivalents.
