𝗡𝗘𝗪𝗦: SEC drops a three-year investigation into Stacks with no action.
Earlier this week, we received word from the SEC that after 3 years, they are terminating their investigation into the @Stacks blockchain (the protocol) and Hiro System (a company) with no action.
Stacks did the first-ever SEC-qualified offering in 2019. The Stacks ecosystem decentralized before the mainnet launch in Jan 2021. In June 2021, the SEC launched an investigation of Stacks & Hiro.
I serve on the board of Hiro Systems. For 3+ years, we have provided all requested information and worked to explain how the Stacks network works, and Hiro’s role as a developer tooling company.
We’re pleased that the SEC dropped the investigation after this time and effort. This is the best outcome a company in our industry could ask for, but the US can do better.
We need a regulatory system that meets builders of innovative open protocols where they are. We’ll continue working with policymakers and developers to help make this happen.
The closing of the Stacks investigation gives us hope for a bright future for decentralized technologies for Bitcoin and the next-generation internet.
(You can read more details in the blog post by Hiro Systems.)
Earlier this week, we received word from the SEC that after 3 years, they are terminating their investigation into the @Stacks blockchain (the protocol) and Hiro System (a company) with no action.
Stacks did the first-ever SEC-qualified offering in 2019. The Stacks ecosystem decentralized before the mainnet launch in Jan 2021. In June 2021, the SEC launched an investigation of Stacks & Hiro.
I serve on the board of Hiro Systems. For 3+ years, we have provided all requested information and worked to explain how the Stacks network works, and Hiro’s role as a developer tooling company.
We’re pleased that the SEC dropped the investigation after this time and effort. This is the best outcome a company in our industry could ask for, but the US can do better.
We need a regulatory system that meets builders of innovative open protocols where they are. We’ll continue working with policymakers and developers to help make this happen.
The closing of the Stacks investigation gives us hope for a bright future for decentralized technologies for Bitcoin and the next-generation internet.
(You can read more details in the blog post by Hiro Systems.)
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