SEC commissioner questions regulator’s new guidance on crypto mining
In a statement, the SEC’s division of corporation finance set out its views on crypto mining activity, “as part of an effort to provide greater clarity on the application of the federal securities laws to crypto assets.”
However, the new guidance was criticized by SEC commissioner Caroline Crenshaw (the regulator’s sole Democratic member), who issued a statement saying that the memo’s logic was flawed, and doesn’t do much to clarify the regulator’s position.
In her statement, Crenshaw suggested that the new guidance relies on circular reasoning, by assuming that crypto is mined only to generate rewards in the form of cryptoassets, and not to profit from the efforts of others — which means that the activity…
