Bitcoin Mining

Today, the SEC issued a statement clarifying that Bitcoin and Proof of Work (PoW) mining activities do not qualify as securities under U.S. law. The agency noted that mining involves computational effort, not entrepreneurial activity, and thus doesn’t meet the Howey Test for investment contracts. This decision lifts a regulatory cloud over miners, who won’t need to register with the SEC, boosting confidence in Bitcoin and potentially other PoW coins.