Stacks

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sec-ends-investigation-into-hiro-systems-2/" data-wpel-link="internal">SEC Ends Investigation into Hiro Systems</a><br></p>
<p>Not all <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> is bad news. We have now seen good news from the SEC front. Could this set a precedent for others? Time will tell, but the dismissal of the nearly 3-year-long <a href="https://en.coin-turk.com/tellor-trb-price-recovers-possibility-of-reclaiming-50/" data-wpel-link="internal">altcoin</a> investigation is a morale booster for the medium and long term.</p> 
<h2 id="sec-crypto-investigation">SEC Crypto Investigation</h2> 
<p>The SEC dropped its investigation into Hiro, formerly known as Blockstack, which raised $70 million from token sales between 2017-2019. Hiro Systems can breathe a sigh of relief after the three-year investigation. In a letter sent to the company today, the SEC wrote:</p> 
<blockquote> 
 <p>“Based on the information we have as of this date, the Commission does not intend to recommend an enforcement action against Hiro Systems PBC, formerly known as Blockstack PBC.”</p> 
</blockquote> 
<p>The company, initially known as Blockstack, launched the first version of the Stacks network under the name STX. Although the SEC initially classified it as a security, it has now concluded the investigation with a warning that it does not mean the company is exonerated. STX <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> are now relieved from the SEC’s scrutiny.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-370186 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/STXUSDT_2024-07-12_16-41-10.png" alt="" width="1814" height="836"></p> 
<p>With the news, the price of the STX Token increased by 5% despite BTC’s weakness.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/sec-ends-investigation-into-hiro-systems-2/" data-wpel-link="internal">SEC Ends Investigation into Hiro Systems</a></h5>

SEC Ends Investigation into Hiro Systems

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