Blockstack PBC has released a summary of a legal memorandum supporting anticipated changes to the status of the Stacks cryptocurrency (STX) to non-security.
This change would permit mining without registering STX as a security, as well as trading in the U.S. on non-securities crypto exchanges.
The memo was prepared by Blockstack’s independent outside securities counsel, Wilson Sonsini Goodrich & Rosati, PC (WSGR), and anticipates that Stacks will no longer be considered securities after the launch of Stacks 2.0.