SEC says proof-of-work mining does not constitute securities dealing

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SEC says proof-of-work mining does not constitute securities dealing

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https://cointelegraph.com/news/sec-proof-of-work-mining-clarification?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

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SEC declares PoW mining out of its jurisdiction

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In a March 20 statement, the SEC division addressed the “mining of crypto assets that are intrinsically linked to the programmatic functioning of a public, permissionless network” and determined that decentralized PoW networks should not be treated as securities.

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Although the SEC’s statement did not name any specific blockchain, its views on certain PoW activities apply to permissionless networks where mining is used to participate in the consensus mechanism. The statement applies to solo miners and mining pools participating in such networks.

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