Cryptocurrency mining does not trigger federal securities laws, according to a statement of the personnel of the United States Stock Exchange and Securities Commission (SEC) that told mining operators that they do not need to register their transactions with the regulator.
The statement, published by the Division of Finance of the SEC Corporation, declared that both the cryptographic working work mining and the cryptographic mining of proof of work grouped do not comply with the definition of a transaction of values under the Howey test, the legal frame Propagations profits of the entrepreneurship or manager that represents investment efforts. “
The statement repeats any persistent fear that the SEC’s execution division can look at cryptographic work proof miners. Although the agency, under the leadership of former President Gary Gensler, reluctantly admitted that Bitcoin was a merchandise instead of security, the demand for the agency against Green United, based in UTAH, an alleged scheme of Ponzi accused of defrauding customers in a mining scheme in the cloud, caused concerns among some in the industry that the agency would finally be written in the industry of legitimate laws.
The SEC said that Thursday’s statement is “part of an effort to provide greater clarity about the application of federal laws of cryptography assets”, something that the industry has been promoting for years. Under the new leadership of the interim president Mark Uyeda, who established a cryptographic working group headed by the cryptographic commissioner Hester Peirce, the agency has quickly started to reverse the course on its cryptographic approach, abandoning demands and investigations initiated under Gensler and repeal the controversial accounting bulletin 121.
Thursday’s statement on Thursday occurs shortly after the SEC issued a declaration of similar personnel in February declaring that most memecoras are out of the regulator’s jurisdiction.
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Under its new leadership, the SEC has indicated a much greater will to work with the cryptographic industry to create better and clearer regulations that advance. On Friday, the agency will organize a round table on what makes a cryptocurrency a security, the first of a series of round table discussions between the regulator and industry participants.
