On March 21, according to a statement published by the SEC of the USA regarding certain mining activities using PoW, the financial department of the SEC of the USA believes that individual and collective ( so-called PoW mining) activities are not considered transactions involving securities. According to the principles of the Howey Test (, miners do not rely on the efforts of others to make a profit, but rather receive rewards for their own computational contributions to the network.
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On March 21, according to a statement published by the SEC of the USA regarding certain mining activities using PoW, the financial department of the SEC of the USA believes that individual and collective ( so-called PoW mining) activities are not considered transactions involving securities. According to the principles of the Howey Test (, miners do not rely on the efforts of others to make a profit, but rather receive rewards for their own computational contributions to the network.