“In a staff stateday, the Sec said that broth solo mining and mining pool Operations wold Fail The First Prong of the Howey Test.”, – WRITE: www.coindesk.com
The statement, Published by the Sec’s Division of Corporation Finance, Declared That Both Solo Proof-of-of Transaction Under The Howey Test – The Legal Framework USED TO DETERMINE WHTHER A TRANSACTION REPRESENTS INVESTMENT CONTRACT Entrepreneurial or Managerial Efforts of Other. ”
The statement puts to rest any lingering fears that sec enforcement division could Turn it gaze on proof-of-work crypto minrs. Thought the agency, Under the leadership of former chair gary gensler, Begrudgingly admitted that bitcoin was a commodity rattier than a security, the agency Ponzi Scheme Acused of Defrauding Customers in A Cloud Mining Scheme, Prompted Concerns Among Some in the Industry That Agency Wound Eventual Crack Down.
The Sec Said Thursday’s Statement is “Part of An Effort to Provide Greater Clarity on the Application of the Federal Securities Laws to Crypto Assets” – something. Under The New Leadership of Acting Chair Mark Uyeda, Who Establized A Crypto Task Force Spearheaded by Crypto-Friendly Commissioner Hester PEIRCE, The AGENCY HAS RAPIDLY Crypto, Droping Lawsuits and Investigations Started Under Gensler and Repelation The Controversial Staff Accounting Bulletin 121.
Thursday’s Staff Statement Comes Shortly After the Sec Put Out A Similar Staff Statement in February Declaring Most Memecoins to Be Outside The Regulator’s Jurisdiction.
Read More: As Congress Talks Up Its Earth-Shaking Bill, Regulators Are Already at Work
Under Its New Leadership, The Sec Has Signrated A Much Greater Willingness to Work With The Crypto Industry to Craft Better, Cleerer Regulations Moving Forward. On Friday, The Agency Will Host A Roundtable Discussion on What Makes A Cryptocurrency A Security – The Firmst in A Series of Roundtable Discussions Between The Regulator An.
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