US Stocks and Value Committee.
This is a consensus mechanism used to ensure that participants in networks such as Bitcoin, known as Minors, calculate valid alphanumeric codes (hash) to validate transactions. It acts as the basis for Development of Cryptocurrency mining.
According to a statement from the SEC, in order to clarify the legal status of Bitcoin mining, the Body Corporate Finance division has released its conclusions regarding certain activities carried out in the POW network.
In that sense, it points out that digital currency obtained through participation in this consensus mechanism is eligible as a “covered cryptographic action.” They do not respond to legal standards You must obtain qualification as a title value (safety).
The SEC analysis is based on the definition of “value” established in Section 2(a)(1) of the Securities Act and 3(a)(10) of the Exchange Act. There is a variety of financial products to consider safetyas stocks, promissory notes and bonds.
The statement adds by a covered cryptographic action (or created Bitcoin). They do not conform to the definition of financial products Explicitly included in the SEC list.
Therefore, they were applied SO – Called Howey test, Since the 1940s of the last century, American regulators have used it to determine whether an asset is a value title. Through this tool, transactions with specific assets can be made. They imply an investment contract.
In evaluating the economic realities of transactions, the test is based on establishing whether there is a reasonable expectation that the company is itself a money investment and that it will benefit the third party’s business or management efforts.
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According to the results of analysis applied to mintted bitcoin, they do not imply an investment contract. Considering that this is a payment to the miners in exchange for the services offered to the network, not the benefit obtained from the management efforts of the business or third party.
Therefore, the department establishes participants in the mining activity There is no need to register a transaction In front of the committee. It is also not one of the securities law registration exemptions in connection with these activities.
In that sense, the assessed evaluation has been revealed to focus on activities related to what is known as Solo mining and pool. That means he is dedicated to someone who is dedicated to working alone to run a cryptocurrency node and mine, or to someone who does it as a team.
These SEC conclusions are part of the government’s efforts to advance regulations on the US Bitcoin ecosystem.
As Cryptonoticia reports, under the mission of Donald Trump, the agency has made a significant shift in policy towards its sector, joining a plan drawn from the White House to promulgate favorable laws.
(TagStoTRASSLATE)Bitcoin (BTC)(T)Destacados (T)Mineros (T)seconds
