The U.S. Securities and Exchange Commission (SEC) announced that proof-of-work mining, which underpins major cryptocurrencies like Bitcoin and Dogecoin, does not violate U.S. securities law. In its effort to clarify regulations in the rapidly evolving crypto industry, the SEC stated that mining operations do not require registration as they do not involve the sale of securities. The regulator clarified that miners' expectations of rewards do not depend on the managerial efforts of a third party, thus exempting them from securities jurisdiction. This announcement reflects a shift under the new SEC leadership, moving away from a previous stringent approach towards more accommodating regulations. This decision is significant as Bitcoin and Dogecoin are among the largest proof-of-work cryptocurrencies by market capitalization. The SEC's stance could positively influence the crypto mining landscape, alleviating fears that mining operations might be classified as securities dealings.

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