The American securities regulatory body provided clarity regarding crypto mining transactions but still some crypto enthusiasts are in doubt, as the agency failed to use PoS Cryptocurrencies.
Summary
- The US SEC body called Bitcoin mining non-security financial transactions.
- The regulatory body explained that Bitcoin miners don’t need to get permission from any third party for mining.
- Donald Trump says he wants to make America the Bitcoin superpower country.
The United States Securities and Exchange Commission (SEC) is the top financial regulatory body in the USA. Over the last several years, the SEC body badly harassed the crypto sector using traditional securities laws. In the past couple of years, many top crypto companies have been sued by the SEC body for providing crypto services. At the time, the regulatory body called almost all the cryptocurrencies unregistered security tokens.
On 20 March 2025, The US SEC body announced that all the crypto mining activities linked to Proof-of-work (PoW) consensus will not be subject to securities offerings.
SEC’s announcement asserted that PoW networks only require computational power and do not depend on someone else’s business or management efforts, so it does not qualify as an investment contract under the Howey Test.
It is worth it to note that the SEC body called PoW crypto networks decentralized but failed to mention Proof-of-stake (PoS) networks.
We know that the financial regulator imposed restrictions on proposals for crypto staking within ETPs, as the party/person loses control of his tokens when goes for staking. Some experts believe that the SEC body has a faulty understanding of crypto staking mechanisms.
Sec’s New Procrypto Chairman Coming
As per reports, the US SEC Chair nominee Paul Atkins, OCC Comptroller nominee Jonathan Gould, and Treasury Assistant Secretary nominee Luke Pettit will appear before the Senate Banking Committee on March 27. If the committee approves their nominations with a full Senate vote, then Paul Atkins could take office next month.
Atkins was appointed by US President Donald Trump to handle the leadership of the SEC body as a new chairman. Currently, Mark Uyeda is playing the role of acting chairman, and with his work, he showed that there is huge space for the crypto sector to evolve under the US jurisdiction with crystal clear rules & laws.
Last month, under the leadership of Uyeda, the SEC body announced all the meme tokens inspired by internet memes or any cultural will be considered non-security tokens and also labelled them as collectibles, however, the agency clarified that if someone found misusing the meme tokens concept to conduct scam or any kind of other unethical act then they will have authority to take action.
Related: SEC Drops Consensys Lawsuit and Says Meme Coins Are Not Securities
Donald Trump’s Continuous Procrypto Presidency
Since 20 Jan 2025, Donald Trump has shown his open support for the crypto space in multiple ways. By launching a meme token, Trump not only showed the freedom of crypto investors but also clarified that everyone is open to contributing to the space in his own ways.
Recently, FOX Business reporter Eleanor Terrett informed the crypto community that Trump said he wants to make America the Bitcoin superpower country. Speaking at the Digital Asset Summit 2025, he asked Congress to pass stablecoin laws quickly. The ProCrypto President also slammed banks for supporting Operation Chokepoint 2.0, which harmed the crypto companies and crypto investors badly.
Read also: Upbit & Bithumb Shareholders Took Millions in Bribes for Token Listings – Explosive Scandal Exposed!
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