Alexander C. Kaufman
@kaufman
The SEC just ruled that proof-of-work mining doesn't fall under securities law. Was this expected? And what does this mean for the crypto ecosystem? https://x.com/unusual_whales/status/1902837301648166938
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Señor Doggo
@fubuloubu
1) seems like an insane thing to even try to claim is a security in the first place (but Biden admin had done weirder) 2) probably something to do with whether miners have fiduciary obligations to network participants (which is an insane thing to even try to claim)
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Señor Doggo
@fubuloubu
Important to note, there was a period when a Warren-invited academic witness to a Congressional hearing had built up quite a bit of research claiming that miners (and network validators in general) were fiduciaries who needed to have fiduciary obligations to network users, and shouldn't just stop at being considered "simple" service providers operating the network, who can be swapped in and out
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