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International Business Times
International Business Times
Business
Marvie Basilan

Bitcoin Miners Rejoice As SEC Says Proof-of-Work Crypto Mining Doesn't Fall Under Securities Laws

SEC Mining Bitcoin Crypto Hester Peirce Pierre Rochard POW Commission
The Bitcoin network is one of the top blockchains that uses the Proof-of-Work mechanism in crypto mining. (Credit: Dmytro Demidko/Unsplash)

KEY POINTS

  • SEC staff said PoW crypto mining activities don't involve securities offerings as defined by securities laws
  • The Bitcoin network uses PoW mechanism as opposed to Proof-of-Stake
  • Bitcoiners and crypto executives thanked the SEC for providing clarity on the segment

The U.S. Securities and Exchange Commission (SEC) under a new leadership on Thursday clarified its stance on Proof-of-Work (PoW) mining operations, saying "mining activities" as defined in its statement do not need to register with the Commission, effectively removing them from the list of activities subject to securities laws.

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