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?

SEC says proof-of-work mining does not implicate US securities laws

unusual_whales

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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Here's a Coinbase article on the news: https://www.coindesk.com/policy/2025/03/20/proof-of-work-crypto-mining-doesn-t-trigger-securities-laws-sec-says

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Am I reading this right that this more or less just puts to rest the the agency (presumably under a future administration) could use something like the Green United case as fodder for a broader regulatory crackdown?

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I think trump wants mining industry to come back to the US by using tax exemption carrots

could be -bullish- for mining US companies that will have a better profit ratio mostly (?)

also new mining companies from overseas could move some of their infra (idk)

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I’m the 🐳 who changed Congress .

Oh, BTW @unusualwhales is actually here too

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)