SEC drops investigation of Bitcoin Stacks developer Hiro — Filing
This is the second crypto investigation the US securities regulator dropped this week.
The United States Securities and Exchange Commission has dropped a three-year investigation into Hiro Systems, the developer of Bitcoin’s Stacks layer-2 blockchain, which raised $70 million from token sales between 2017 and 2019, according to a July 12 regulatory filing.
Hiro, which was previously called Blockstack, has been treating its native token, STX, as a security under US law since its launch in 2018.
“Based on the information we have as of this date, we do not intend to recommend an enforcement action by the Commission against Hiro Systems PBC, formerly known as Blockstack PBC,” according to a letter from the regulator included in the Friday filing.
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Author: Alex O’Donnell
