SEC: PoW mining does not constitute securities issuance

Odaily Planet Daily News: On March 20th, the US Securities and Exchange Commission (SEC) issued a statement stating that cryptocurrency mining activities based on proof of work (PoW) mechanisms do not constitute securities issuance and therefore do not need to be registered under the Securities Act. The statement points out that whether miners mine independently or through mining pools, the rewards they receive are direct returns for their contributions to computing resources, rather than based on the management or business profits of others, and therefore do not meet the definition of an "investment contract". The SEC emphasizes that this determination only applies to specific types of mining activities, and other transactions involving encrypted assets still require individual case analysis.