According to a recent regulatory filing, the SEC has closed its investigation into Hiro Systems PBC, the creators of Stacks Blockchain. This blockchain, designed to scale Bitcoin, was the subject of the SEC investigation, The Block has reported.
In a Form 1-U, Hiro stated that on July 9, 2024, the SEC informed them that the investigation had concluded and that the agency did not intend to take any enforcement action against them based on the information available at that time.
This news comes shortly after the SEC also dropped its investigation into Paxos and its Binance USD stablecoin.
Paxos reported it had received a formal notice of termination on July 9, indicating the SEC will not be recommending any enforcement action against them in its BUSD investigation.