According to Fortune, the U.S. Securities and Exchange Commission (SEC) has ended its investigation into New York-based stablecoin issuer Paxos. On July 9, Jorge Tenreiro, acting director of the SEC's Crypto Assets and Networks Unit, informed Paxos that no enforcement action would be recommended. This decision marks the official end of the investigation into the BUSD stablecoin. Walter Hessert, Paxos' head of strategy, said the result brought great relief and would bring more certainty to the market.