📰 The US Securities and Exchange Commission (SEC) has dropped its three-year investigation against blockchain software developer Hiro Systems (formerly Blockstack), which raised $70 million through token sales between 2017 and 2019, according to CoinDesk. 🕵️‍♂️💼

“Based on available information, we do not plan to propose legal action against Hiro Systems PBC (formerly Blockstack PBC),” the SEC said in a letter to Hiro. However, the caveat was added that this does not mean that he is "free from liability". 📝⚖️

Hiro provides developers with tools to build applications on Stacks (a Layer2 blockchain that complements Bitcoin). Stacks is the brainchild of crypto veteran Muneeb Ali, who is now a board member of Hiro and CEO of Trust Machines. 🛠️💡