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18 January 2021

Blockstack Says STX Will Become a Non-Security Asset | Crypto Briefing

Blockstack Says STX Will Become a Non-Security Asset | Crypto Briefing


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7, Blockstack published a legal memorandum its blog, claiming that the company’s Stacks (STX) token may no longer be a security asset under U.S.

However, the firm claims that the upcoming STX 2.0 blockchain upgrade will impact the legal status of the network token.

The news is notable because no other company has ever attempted to change the status of a crypto token under U.S.

The final verdict is in the hands of the SEC, which has not yet made a comment on the nature of STX tokens, but there are broader implications of the Blockstack’s legal memo for other crypto companies.  One example is XRP, which has been the subject of a long controversy over its legal status

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