SEC Clarifies Crypto Mining Stance, Senate Hearing Set for Crypto-Friendly Chair Nominee
The U.S. Securities and Exchange Commission (SEC) has provided further clarity on its stance towards the cryptocurrency industry, issuing a staff statement declaring that proof-of-work (PoW) crypto mining does not trigger federal securities laws.
This announcement comes alongside the scheduling of a Senate hearing for Paul Atkins, President Trump’s nominee to lead the SEC, who is known for his supportive views on cryptocurrencies.
The staff statement released Thursday by the SEC’s Division of Corporation Finance explicitly stated that both solo and pooled proof-of-work cryptocurrency mining operations fall outside its jurisdiction. The SEC explained that these activities do not meet the definition of a securities transaction…
