[Breaking News] BlockBeats reported on July 12 that the U.S. Securities and Exchange Commission (SEC) recently announced that it would stop its three-year investigation into blockchain software developer Hiro Systems (formerly Blockstack). The company raised $70 million through token sales between 2017 and 2019.

The SEC wrote in a document on Friday: "Based on the information we currently have, we do not intend to recommend that the Commission take enforcement action against Hiro Systems PBC (formerly Blockstack PBC)." This undoubtedly brought a sense of relief to Hiro Systems.

What does this decision mean? Is the SEC's attitude towards the blockchain industry changing, or is Hiro Systems' behavior not in violation of regulations? This question is left for everyone to discuss in the comment section. 😉

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