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December 7, 2020

Stacks Cryptocurrency Expected To Reach Non-Security Status in the United States

Today, Blockstack PBC released a summary of a legal memorandum supporting plans for the Stacks cryptocurrency (STX) to no longer be considered a security under U.S. law after the launch of the Stacks 2.0 blockchain. The summary is of a memorandum prepared by Blockstack PBC’s independent outside securities counsel, Wilson Sonsini Goodrich & Rosati, PC (WSGR). It outlines how the anticipated change of status should permit mining to occur on the Stacks 2.0 blockchain in the U.S. without having to register Stacks as securities, and how it will permit U.S. persons to trade Stacks on non-securities exchanges.

Full announcement & memo

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Blockstack PBC is not registered, licensed, or supervised as a broker dealer or investment adviser by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), or any other financial regulatory authority or licensed to provide any financial advice or services.

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