The Department of Corporate Finance of the US Corporation Commission explained its views on the extraction of proof of work, arguing that such activities do not constitute “offer and sale of securities”, as specified in the Act on securities of 1933, if they meet certain criteria.
On March 20 statementThe SEC Department dealt with “extraction of cryptocurrency assets, which are internally related to the program functioning of public, devoid of network permit” and determined that the decentralized POW networks should not be treated as securities.
Although the SEC statement did not mention any specific blockchain, its views on some activities require networks without permission in which mining is used to participate in the consensus mechanism. The statement applies to solo miners and miners participating in such networks.
The Finance Department of the SEC Corporation gives your opinion on the “mining activities of the protocol”. Source: Sec
Although Bitcoin (BTC) is by far the largest and most significant POW chain, there are several others, including Dogecoin (Doge), Litecoin (LTC) and Monero (XMR). USA regulatory authorities have long considered bitcoins to be a companion Litecoin AND DogecoinAccording to the Futures Commodity Trade Commission.
Source: Cointelegraph
Related: Trump says that we will be “bitcoin superpowers” because the price of BTC breaks 4-month decline
Pro-Cryptic policy
Digital Asset Markets, including POW chains, are to develop under the US President Donald Trump, who swore to make America the capital of blockchain and cryptocurrencies.
In addition to the appointment of a pro-check replacement Gary Gensler in SEC, the president established the Council of Digital Asset Advisors in order to develop regulations regarding universal sense for the industry.
On March 19, the executive director of the Council, because Hines, revealed that the comprehensive bill of the Stablecoin Act may land on the president’s desk within a few months.
On the same day, Blockchain Association, a group of industry spokes, stated that the cryptocurrency market structure was expected to the summer.
“I think we are close to the possibility of doing those in August […] They are now doing a lot of work behind the scenes – said Kristin Smith, general director of Blockchain Association.
https://www.youtube.com/watch?v=JMQJ01_zka8
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