The US Securities and Exchange Commission’s Division of Corporation Finance has clarified its views on proof-of-work mining, focusing that such activities do not generate “offer and sale of security” such as outlined in the Securities Act of 1933, as long as they meet certain standards.
On a March 20 statementThe SEC Division discusses “mining crypto assets that are irrelevant linked to the programmatic working by a public, unauthorized network” and it is determined that decentralized pow networks should not be treated as security.
Although the SEC statement did not name any specific blockchain, its views on certain POW activities apply to unauthorized networks where mining is used to participate in the consensus mechanism. The statement applies to solo miners and mining pools participating in such networks.
The SEC’S Division of Corporation Finance provides a POW of Pow “Protocol mining activities.” Source: Sec
Even the bitcoin (Btc) is in the largest and most significant Pow chain, many others, including Dogecoin (Doge), Litecoin (LTC) and Monero (Xmr). US regulators have long been considered that bitcoin is a commodity and not a security – a perspective that also extends Litecoin and DogecoinAccording to the Commodity Futures Trading Commission.
Source: Cointelegraph
Related: Trump said it would be ‘Bitcoin Superpower’ because the price of BTC destroys 4 -month downtrend
A Pro-Crypto Policy Tailwind
Digital asset markets, including chain chains, are set to thrive under US president Donald Trump, who swore to make America blockchain and crypto capital.
In addition to appointing a pro-crypto replacement For Gary Gensler in the SEC, the President established the council of advisors to digital assets to advance the common regulations for the industry.
On March 19, the Executive Director of Council Bo Hines, revealed that a comprehensive Stablecoin bill was land at the President’s desk Within a few months.
On the same day, the Blockchain Association, an industry advocacy group, said a Bill of Cryptocurrency Market structure is expected of tag -day.
“I think we’re about to do the accomplishments for August (…) they do a lot behind the scenes today,” said Kristin Smith, the CEO of the Blockchain Association.
https://www.youtube.com/watch?v=jmqj01_zka8
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