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US SEC Exempts Proof-Of-Work Mining From Security Obligations

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17 hours ago

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The US Securities and Exchange Commission (SEC) has issued a statement on the status of Proof-of-Work cryptocurrency mining activities. According to the guidance, these mining activities will not come under existing securities rules, sending waves of excitement across the cryptoverse.

SEC Says Proof-Of-Work Mining Are Not Subject To Securities Laws

The US SEC is galloping toward crystal-clear regulations for cryptocurrencies and the last is a guidance on the status of protocol mining activities. According to a statement released by the SEC, Proof-of-Work mining activities will not be subject to existing securities obligations.

The SEC’s Division of Corporation Finance released the guidance, clarifying that the exemption applies to only Proof-of-Work mining activities. A community reading of the statement notes that the exempted activities are limited to only public blockchain networks.

“Accordingly it is the Division’s view that participants in mining activities do not need to register their transactions with the Commission under the Securities Act or fall within one of the Securities Act’s exemptions from registration in connection with these Mining Activities,” read the SEC’s statement.

Per the guidance, individual miners or mining pool participants are not required to register their transactions with the SEC. The move follows an earlier declaration by the SEC that memecoins are not securities amid a changing stance by the regulator.

The Commission hinges its decision to exempt “Covered Crypto Assets” from securities obligations based on its exclusion in section 2(a)(1) of the Securities Act. Furthermore, the application of the Howey test indicates that the proceeds of protocol mining do not constitute investment contracts.

Industry Braces For Incoming Positive Regulations From The Commission

The SEC is steamrolling towards the first of several roundtables with industry stakeholders led by its Crypto Task Force. Ahead of the discussions, the US SEC is keen on creating on creating a regulatory framework for digital securities.

Furthermore, Coinbase has presented a blueprint to the SEC urging the regulator to launch guidance to distinguish securities from commodities. Coinbase CLO Paul Grewal opines that clear rules will lead to the emergence of a vibrant market for tokenized securities.

Despite the push toward clarity, the SEC faces a FOIA request over the cost of its enforcement actions. The SEC is extricating itself from the previous pattern of regulation by enforcement, opting for clear-cut rules for the sector.

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Aliyu Pokima

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Paul Atkins To Face Nomination Hearing for US SEC Chair Role

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14 hours ago

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March 21, 2025

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US Securities and Exchange Commission (SEC) Chairman nominee Paul Atkins will appear before the Senate Banking Committee for his long-awaited confirmation hearing in the coming week. The committee will decide whether Atkins is a suitable replacement for Gary Gensler and will also consider other pro-crypto nominations.

Paul Atkins US SEC Chair Hearing

According to the released schedule, the US Senate hearing for Atkins is scheduled for Thursday, March 27. 

In addition to this hearing, the Senate panel intends to weigh the nomination of Jonathan Gould to serve in the Office of the Comptroller of the Currency. Anyone who occupies this office is responsible for overseeing U.S. national banks. This is a key area of interest for crypto firms, especially to reverse the debanking menace permanently.

Before now, Paul Atkins served as a commissioner with the US SEC but is very supportive of digital asset initiatives. 

He was in charge of a Washington firm that managed clients with financial compliance issues. The broader crypto ecosystem expects him to sustain the pro-crypto momentum that President Donald Trump brought to the US following his inauguration.

Paul Atkins the Trump Choice for SEC

In December, President Donald Trump nominated Paul Atkins as the next chair of the SEC, citing his pro-crypto stance. 

Trump also highlighted that Atkins is a proven leader in “common sense” regulations. At the time, several market observers pointed out the SEC’s regulation-by-enforcement approach.

Prior to his confirmation, Trump designated Mark Uyeda as acting Chairman. Uyeda has upheld the president’s pro-crypto agenda, and Atkins is expected to maintain the current status quo.

In the long term, he is expected to implement policies that favor the crypto ecosystem, which may eventually change the regulatory outlook of the region and attract more investors.

US SEC Turnaround Under Mark Uyeda

Mark Uyeda has served as the SEC’s interim chairman since January 20, when Trump was inaugurated. 

In this position, many changes have come to the crypto ecosystem within two months. Some lawsuits against crypto firms have been retracted. While it started with the Coinbase lawsuit, other cases tied to Uniswap, Robinhood Crypto, OpenSea, and Kraken have also been closed.

The US SEC closed the Ripple lawsuit earlier this week, a major pivot that shows no legal obligation for Paul Atkins if confirmed. Similarly, the US President also recently signed an executive order establishing the strategic Bitcoin reserve. 

This reserve, according to industry leaders, may also expand to altcoins like XRP soon.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Coinbase Provides Blueprint For US SEC On Digital Assets Regulation

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18 hours ago

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March 20, 2025

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As parties sheath their swords after a protracted legal saga, Coinbase has presented a blueprint to the US SEC for digital asset regulation. The proposal involves suggestions to the SEC for regulating digital securities ahead of its Crypto Task Force roundtables.

A Four-Point Blueprint For Digital Asset Regulation

Coinbase Chief Legal Officer Paul Grewal revealed on X (formerly Twitter) that the US-based exchange has put forward a blueprint for digital securities regulation. According to Grewal, Coinbase’s proposal is a response to a raft of questions presented by SEC Commission Hester Pierce on the best way to regulate digital securities.

While the law is crystal clear on traditional securities, digital securities are a gray area for the Commission given the novelty of the concept. To address Pierce’s questions, Coinbase presented a detailed blueprint to assist the securities watchdog.

The first step in Coinbase’s proposal is for the SEC to create a “clear taxonomy” for the distinction between cryptocurrency commodities and securities. Secondly, the SEC is encouraged to declare that secondary market sales of commodities are not securities transactions. As the regulatory haze clears, the SEC has dismissed its Ripple lawsuit, shuttering similar actions against Coinbase and Kraken.

Thirdly, rather than creating rules on the go, Coinbase wants the SEC to seek Congressional opinion in areas of ambiguity. Lastly, the blueprint urges the SEC to make rules that recognize the potential of Web 3 and tokenized securities.

“If we get this right, we will finally see a real tokenized securities market led by the US,” said Grewal.

A Rising Trend Of Collaborating With The SEC

The US SEC is changing stances toward the cryptocurrency industry following the departure of Gary Gensler. A newly minted Crypto Task Force led by Pierce is inching toward a series of roundtables to define security status.

Several key ecosystem players have indicated a desire to collaborate with the SEC in its “Spring Sprint Toward Crypto Clarity.” While Coinbase is collaborating with the SEC, it has filed a FOIA request against the Commission, seeking clarity for its enforcement actions.

“The previous SEC spent four years attacking a lawful industry, and American taxpayers were left holding the bill,” said Coinbase.

Outside of its row with US regulators, Coinbase has re-entered India to offer retail trading services. The largest cryptocurrency exchange in the US is expanding to new frontiers to keep pace with its peers.

 

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Aliyu Pokima

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President Trump To Address Crypto Summit Amid Bitcoin Reserve Strategy

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2 days ago

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March 19, 2025

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President Donald Trump will address Blockworks’ Digital Asset Summit (DAS) in New York City on March 20. This marks the first time a sitting U.S. president has spoken at a Bitcoin and cryptocurrency conference. His participation underscores the growing role of digital assets in financial policy and government strategy.

The event follows his executive order establishing the U.S. Strategic Bitcoin Reserve, positioning BTC as a key asset in the country’s financial framework.

Donald Trump Speech at DAS and Its Context

Donald Trump’s presence at the Digital Asset Summit comes amid increasing government interest in Bitcoin and digital currencies. His administration has taken steps to integrate Bitcoin into national reserves, emphasizing its role in the country’s long-term financial strategy. 

The U.S. president previously addressed a Bitcoin conference in Nashville during his campaign. Now, the pro-crypto President will speak at a crypto conference for the first time.

Discussions at the event will focus on Bitcoin’s adoption among institutions, regulatory developments, and the future of crypto markets. Trump’s speech will touch on the next steps in his administration’s Bitcoin strategy.

This development comes just a few hours after Ripple CEO Brad Garlinghouse revealed that XRP is expected to be part of the US Digital Asset Stockpile. He cited President Trump’s previous mention of the asset on Truth Social.

The U.S. Strategic Bitcoin Reserve Initiative

Earlier this month, President Trump signed an executive order establishing the U.S. Strategic Bitcoin Reserve, marking a new phase in the country’s approach to digital assets. The initiative aims to accumulate Bitcoin as a national reserve asset, drawing comparisons to traditional gold reserves. 

Bo Hines, Executive Director on Digital Assets for the Trump administration, stated that the government’s Bitcoin acquisition strategy is budget-neutral. He emphasized that this approach ensures it does not affect other financial priorities.

Hines has emphasized that Bitcoin accumulation is part of a broader strategy to strengthen the nation’s financial resilience. Lawmakers have already proposed measures to expand the reserve, with Senator Cynthia Lummis and Congressman Nick Begich suggesting a plan to acquire 1 million BTC over the next five years. The proposal is currently under review, with legislative discussions expected to continue in the coming months.

More so, the Executive Director of the Presidential Working Group on Digital Assets revealed plans for stablecoin legislation to be finalized within two months. Bo Hines expects Senator Bill Hagerty’s GENIUS Act to be enacted, with President Trump potentially signing it into law.

Industry Leaders and Lawmakers at DAS

The summit will feature key figures in the cryptocurrency and financial sectors, in addition to Trump’s address. Michael Saylor, a Bitcoin advocate, will deliver a keynote speech and participate in a discussion with BTC historian Pete Rizzo. 

The event will also host Bloomberg ETF analyst James Seyffart, who will moderate a panel featuring BlackRock’s Head of Digital Assets, Robbie Mitchnick, and Nasdaq’s Head of U.S. Equities & Exchange-Traded Products, Giang Bui.

President Trump’s participation in the Digital Asset Summit is changing how people view digital assets.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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