After Paxos, SEC Ends Investigation into Hiro Systems

Just one day after the SEC ended its investigation into Paxos, the commission is dropping another investigation. 

According to the details from a recent filing, the SEC has ended its investigation of Hiro Systems. 

Key points:

• The SEC ends its three year long investigation into Hiro.
• Details from the filing show that the SEC is not taking any enforcement action.
• The decision comes just one day after the SEC ended its investigation into Paxos.

Hiro Systems was informed by the staff of the Securities and Exchange Commission (the “SEC”) that the staff concluded its investigation as to the Stacks Blockchain and that based on the information known to the staff as of that date the staff does not intend to recommend an enforcement action by the SEC against Hiro, stated the filing.

Also read: German Government Now Has Only 9K Bitcoin Left To Offload

SEC’s decision comes just a day after it ended Paxos investigation

The decision by the SEC comes after the SEC concluded its year long investigation into Paxos. The commission also stated that it doesn’t recommend any enforcement action.

Hiro Systems is a company that creates development tools for the Stacks blockchain. Now, the company can take a breather as the filing finally marks an end to the SEC’s inquiry.

Also read: US Inflation Drops To 3%, Crypto Market Turns Green

The SEC has been scrutinizing the crypto industry with its back-to-back lawsuits. Major crypto exchanges, including Coinbase, Kraken and Binance, were also under the radar of its regulatory scrutiny.

However, the industry stands united in its demand for a clear framework for regulating cryptocurrencies in the United States.