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The US Securities and Exchange Commission (SEC) has concluded its three-year investigation into Bitcoin Layer 2 (L2) blockchain Stacks (STX) and Hiro Systems without taking any action.

The firm is the developer of Bitcoin's Stacks layer-2 blockchain. The US agency has dropped two investigations this week in regards to cryptocurrencies.

Crypto was up this week but these smaller altcoins led the way.

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Bill Barhydt, founder and CEO of Abra, a global platform for digital asset prime services and wealth management, weighs in on why the price of bitcoin has been stuck below $60,000.

The U.S. Securities and Exchange Commission (SEC) is dropping its investigation into the firm behind the popular Bitcoin (BTC) layer-2 chain Stacks (STX). According to a new Form 1-U filing from the SEC, the securities regulator has investigated STX-developer Hiro and decided not to pursue any further actions against the crypto firm.

The SEC's decision not to pursue enforcement against Stacks highlights the ongoing regulatory uncertainty and the need for clearer crypto guidelines. The post SEC ends three-year investigation into Bitcoin L2 Stacks and its developer with no enforcement action appeared first on Crypto Briefing.

This is the second crypto investigation the U.S. securities regulator dropped this week.

The SEC has closed its investigation into Hiro and the Stacks blockchain without recommending any enforcement action, according to a July 12 blog post from the team. The investigation, which began more than three years ago, has been a significant chapter in the history of the Bitcoin Layer-2 network.

The SEC has finally ended its three years long investigation into the blockchain developer Hiro Systems. Hiro was previously known as Blockstack and it raised $70 million from token sales between 2017 and 2019.

TL;DR The SEC has concluded a three-year investigation into Hiro Systems, a blockchain software development company. The SEC's decision not to recommend regulatory actions against the company marks a victory for the crypto industry in its confrontation with the U.S. regulator.

Crypto community has another reason to celebrate as the U.S. Securities and Exchange Commission (SEC) has dropped its investigation against Hiro Systems, a developer firm integral to the Bitcoin Layer-2 network Stacks.

The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Stacks, a Bitcoin scaling network, and its original developer, Hiro Systems, with no recommended enforcement actions. This investigation began in 2021 despite claims by network contributors that Stacks' token sale was SEC-qualified.

Stacks (STX) saw a significant surge of nearly 9% following the U.S. Securities and Exchange Commission's (SEC) landmark decision. Recently, the U.S. SEC decided to conclude a three-year investigation into Hiro Systems, previously known as Blockstack.

The U.S. Securities and Exchange Commission has dropped its probe into Hiro Systems PBC, according to a regulator filing posted on Friday.

Stacks, a Bitcoin scaling network, is no longer the subject of an SEC investigation after the agency recommended no enforcement action.

The conclusion of the probe into the company formerly known as Blockstack, which raised $70 million via token sales from 2017 to 2019, is another win for the crypto industry in its years-long struggle with the regulator.

In a week that has pushed many BRC-20 tokens up, the price of STX, the native token of Stacks, the Bitcoin layer for smart contracts, has increased by 22% before a slight retrace.

The crypto market has continued to record a bearish price action by losing 2.27% in valuation over the past 24 hours with a total trading volume of $68.25 Billion, a change of +15.73%. Moreover, the Bitcoin price has failed to hold its value above $57K and has lost 2.32% within the past day.

Stacks (STX) price resulted in the crypto asset joining the list of altcoins that have begun recovering their lost profits during the recent decline.

Cryptocurrencies have been bleeding for a few weeks now led by the king of the market's plunge to $54,000. Altcoins could not hold their June values, resulting in a strong wave of declines.

Bitcoin's ongoing recovery has provided a major boost to BRC-20 and BTC beta tokens. 99BTC is next?

There were two clusters of medium and high leverage just below a nearby support level - will prices fall or will bulls take over?

Stacks price has seen a notable recovery this week, driven in part by the strong performance of Bitcoin and other altcoins. The STX token has risen for four consecutive days, and has moved to $1.

Stacks price, a Bitcoin Layer for smart contracts, has experienced a strong surge in the past 24 hours. The altcoin hovers above $1.60, indicating robust market activity and investor interest.