PayPal says SEC closed ‘enforcement action’ in latest dropped crypto case – DL News
- PayPal’s stablecoin had been under scrutiny.
- The Trump administration has been busy undoing the work of Gary Gensler’s SEC.
- PayPal joins lengthening list of dropped crypto cases.
PayPal just joined a not-so-exclusive club — it is the latest cryptocurrency issuer to escape scrutiny by the US Securities and Exchange Commission.
This week, the payments processing giant said the SEC was closing an inquiry into its two-year-old stablecoin without any enforcement action.
The decision is just the latest in a string of dropped or postponed cases and reviews mounted by the SEC during the tenure of former Chair Gary Gensler.
Dropped cases
In the first 100 days of President Donald Trump’s term, the agency has set aside cases into Coinbase,…
