US SEC declares that cryptocurrency PoW mining is not subject to securities laws

The U.S. Securities and Exchange Commission (SEC) clarified its position on certain Proof of Work (PoW) mining activities on the 20th, marking the agency's latest move toward a friendlier approach to the cryptocurrency industry. According to a statement released by the SEC's Division of Corporation Finance, PoW mining does not involve the offering or sale of securities.

"Accordingly, it is our view that participants in mining activities are not required to register transactions with the Commission under the Securities Act in connection with these mining activities, nor are they required to qualify for one of the exemptions from registration under the Securities Act," the SEC said. This...