The SEC said that Thursday’s statement is “part of an effort to provide greater clarity on the application of the federal securities laws to crypto assets” — something the industry has been pushing for for years. Under the new leadership of Acting Chair Mark Uyeda, who established a Crypto Task Force spearheaded by crypto-friendly Commissioner Hester Peirce, the agency has rapidly begun reversing course on its approach to crypto, dropping lawsuits and investigations started under Gensler and repealing the controversial Staff Accounting Bulletin 121.

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The SEC said that Thursday’s statement is “part of an effort to provide greater clarity on the application of the federal securities laws to crypto assets” — something the industry has been pushing for for years. Under the new leadership of Acting Chair Mark Uyeda, who established a Crypto Task Force spearheaded by crypto-friendly Commissioner Hester Peirce, the agency has rapidly begun reversing course on its approach to crypto, dropping lawsuits and investigations started under Gensler and repealing the controversial Staff Accounting Bulletin 121.

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Proof-of-Work Crypto Mining Doesn’t Trigger Securities Laws, SEC Says

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The SEC, under Acting Chair Mark Uyeda, issued the statement clarifying that proof-of-work mining isn't a security as part of a broader effort to provide regulatory clarity for crypto assets, reversing prior enforcement actions and guidance

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