SEC has excluded a Pow-Mringing connection with securities

The US Securities and Exchange Commission (SEC) excluded the mining classification using the Proof-of-Work consensus algorithm as a proposal and selling securities.

“Accordingly, according to the agency, mining participants do not need to register agreements in the commission in accordance with the law on securities, and they do not fall under one of the exemptions from registration provided by the Law on Securities in connection with this mining activity,” the regulator said.

From the moment of Gary Gensler’s departure from the post of SEC chairman, the attitude of the department to the crypto industry has changed to a more friendly one. The commission explained the status of meme coins, stopped regulatory persecution of Consensys, Uniswap Labs, Gemini, Robinhood, Coinbase and a number of other representatives of the industry.

In her conclusion, SEC relied on the Haui test.

“Independent (or solo) mining is not carried out with a reasonable calculation for profit from business or management efforts of other people. Rather, the miner invests his own computing resources that ensure the safety of the network and enable him to earn the rewards issued to the network according to its software protocol, ”the regulator representatives said.

Minging pools are also not related to the offer and sale of securities, emphasized in SEC.

Recall that in December 2024, the commander of the Hester Pierce regulator named three main aspects that the department should be corrected in the regulation of digital assets.

The gun