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Hiro’s vision has been focused on building the next generation of the internet where users have greater control and ownership than ever. From our early days helping create the first version of the Stacks layer, through our current-day focus as a developer tools company for Bitcoin builders, this has been our unifying mission.
Following the first of its kind, Regulation A offering of tokens and the launch of the Stacks mainnet in January 2021, the SEC’s Enforcement Division launched an investigation of Hiro and the Stacks blockchain. For the past 3+ years, we’ve diligently complied with requests for information and worked to explain how the Stacks network works and what Hiro’s role in it is.
On July 9, 2024, we were informed by the staff of the SEC that they had concluded their investigation and do not intend to recommend an enforcement action. Given the current state of the regulatory environment in the US, this is the best outcome any company in our space can hope for.
This outcome reaffirms our commitment to striving for faithful fulfillment of regulatory compliance and meeting our mission to support developers as they build and innovate on Bitcoin.
We’re proudly a developer focused company above all else—our tooling has evolved and grown over the last several years and now covers Ordinals, BRC-20s, Runes, Stacks, and soon, the new sBTC Bitcoin asset.
Our belief in enabling developers is also why we still believe strongly in the need to create a clear path and regulatory framework in the US, and we look forward to continued opportunities to help shape policy to meet builders of innovative open protocols where they are. The closing of the Hiro and Stacks investigation gives us hope for a bright future for Bitcoin and the next generation of the internet.
