SEC concludes the investigation into Stacks and Hiro Systems with no enforcement actions, and it is praised by Hiro Systems for regulatory clarity and commitment to compliance in decentralized technologies.
The investigation into Stacks, a Bitcoin scaling network, and its original developer, Hiro Systems, has been concluded by the U.S. Securities and Exchange Commission (SEC). No enforcement actions have been recommended to date.
Despite network contributors asserting that Stacks’ token sale was SEC-qualified, this investigation commenced in 2021. Hiro Systems commended the SEC’s decision, reiterating its dedication to regulatory compliance.
Muneeb Ali, a board member at Hiro Systems, expressed optimism for improved regulatory frameworks to facilitate innovation in decentralized technologies.
“The conclusion of the Stacks investigation provides us with optimism for the future of decentralized technologies in Bitcoin and the next-generation internet,” he stated.
