- United States’ SEC confirmed Bitcoin miners and PoW pools are not securities, providing much-needed regulatory clarity
- Ethereum’s PoS transition is facing growing criticism right now
In a welcome turn of regulatory clarity, the United States’ SEC has drawn a firm line in the digital sand – Bitcoin miners and proof-of-work (PoW) pools are not securities.
It’s a long-awaited distinction that offers relief to a core part of the crypto ecosystem, especially as Ethereum’s [ETH] transition to proof-of-stake (PoS) continues to divide opinion. With one foot in stability and the other in experimentation, the industry now finds itself at a regulatory crossroads – but at least, for PoW, the path just got a little clearer.
SEC draws the line on PoW mining
In a long-awaited clarification, the SEC’s Division of Corporation Finance confirmed that PoW mining – both solo and pooled – does not fall under U.S securities law. The statement emphasized that mining activity on public, permissionless blockchains like Bitcoin is an administrative function, not an investment contract.
“It is the Division’s view that “Mining Activities” … do not involve the offer and sale of securities…”
Since miners rely on computational power rather than a central entity to generate profits, the “efforts of others” prong of the Howey test does not apply. The decision offers regulatory relief to PoW miners and signals a more transparent approach under the new SEC leadership.
Calls to reconsider Ethereum’s PoS model resurface
Following the SEC’s clarification on PoW mining, critics of Ethereum’s PoS transition are once again amplifying their calls for a return to the old consensus model. For example – Prominent industry voice Meltem Demirors believes that Ethereum’s shift to PoS has diluted the network’s core value by accelerating the rise of Layer-2 (L2) solutions.
“Proof of Stake was a mistake. Ethereum could have been a trillion-dollar protocol with its own robust energy to compute ecosystem. Instead, MEV extracts billions in value from users and apps.”
According to her, PoS fragmented the Ethereum ecosystem and missed an opportunity to build a trillion-dollar protocol powered by an energy-to-compute economy akin to Bitcoin’s. She further claimed that under PoW, Ethereum could have driven innovation in GPU computing and hardware acceleration.
Echoing this sentiment, Red Panda Mining shared a rather blunt statement on X.

Source: X
With PoW now enjoying regulatory clarity, the debate around Ethereum’s architectural direction is heating up once again.
- United States’ SEC confirmed Bitcoin miners and PoW pools are not securities, providing much-needed regulatory clarity
- Ethereum’s PoS transition is facing growing criticism right now
In a welcome turn of regulatory clarity, the United States’ SEC has drawn a firm line in the digital sand – Bitcoin miners and proof-of-work (PoW) pools are not securities.
It’s a long-awaited distinction that offers relief to a core part of the crypto ecosystem, especially as Ethereum’s [ETH] transition to proof-of-stake (PoS) continues to divide opinion. With one foot in stability and the other in experimentation, the industry now finds itself at a regulatory crossroads – but at least, for PoW, the path just got a little clearer.
SEC draws the line on PoW mining
In a long-awaited clarification, the SEC’s Division of Corporation Finance confirmed that PoW mining – both solo and pooled – does not fall under U.S securities law. The statement emphasized that mining activity on public, permissionless blockchains like Bitcoin is an administrative function, not an investment contract.
“It is the Division’s view that “Mining Activities” … do not involve the offer and sale of securities…”
Since miners rely on computational power rather than a central entity to generate profits, the “efforts of others” prong of the Howey test does not apply. The decision offers regulatory relief to PoW miners and signals a more transparent approach under the new SEC leadership.
Calls to reconsider Ethereum’s PoS model resurface
Following the SEC’s clarification on PoW mining, critics of Ethereum’s PoS transition are once again amplifying their calls for a return to the old consensus model. For example – Prominent industry voice Meltem Demirors believes that Ethereum’s shift to PoS has diluted the network’s core value by accelerating the rise of Layer-2 (L2) solutions.
“Proof of Stake was a mistake. Ethereum could have been a trillion-dollar protocol with its own robust energy to compute ecosystem. Instead, MEV extracts billions in value from users and apps.”
According to her, PoS fragmented the Ethereum ecosystem and missed an opportunity to build a trillion-dollar protocol powered by an energy-to-compute economy akin to Bitcoin’s. She further claimed that under PoW, Ethereum could have driven innovation in GPU computing and hardware acceleration.
Echoing this sentiment, Red Panda Mining shared a rather blunt statement on X.

Source: X
With PoW now enjoying regulatory clarity, the debate around Ethereum’s architectural direction is heating up once again.
https://shvejnye.ru/
buy cheap clomid price buy generic clomiphene no prescription where buy generic clomid without dr prescription how to buy cheap clomiphene without prescription buying clomiphene no prescription cost of clomid without a prescription where can i buy clomid tablets
With thanks. Loads of conception!
This is the make of post I find helpful.
zithromax 250mg uk – purchase tindamax online cheap metronidazole 400mg cheap
buy generic semaglutide for sale – order rybelsus 14 mg without prescription order generic periactin 4 mg
purchase motilium sale – oral domperidone cheap flexeril 15mg
buy clavulanate pills – atbioinfo.com ampicillin online
buy nexium 40mg without prescription – anexa mate buy esomeprazole
coumadin 5mg sale – https://coumamide.com/ losartan price
mobic 7.5mg generic – mobo sin meloxicam 7.5mg cheap
buy deltasone 5mg without prescription – https://apreplson.com/ prednisone 40mg tablet
cheap erectile dysfunction – fastedtotake buy ed pills generic
buy amoxil pills for sale – https://combamoxi.com/ cheap amoxicillin tablets
purchase diflucan – https://gpdifluca.com/# order fluconazole 100mg pill
cenforce cost – fast cenforce rs order cenforce 50mg pills
cialis priligy online australia – cialis medicine cialis 100mg review
order ranitidine 300mg sale – https://aranitidine.com/ buy ranitidine tablets
cialis usa – https://strongtadafl.com/# generic cialis online pharmacy
I am in point of fact happy to coup d’oeil at this blog posts which consists of tons of worthwhile facts, thanks representing providing such data. tamoxifen without prescription
order viagra and cialis online – on this site order generic viagra online
This is the compassionate of literature I truly appreciate. https://buyfastonl.com/gabapentin.html
Greetings! Utter gainful advice within this article! It’s the little changes which liking obtain the largest changes. Thanks a a quantity quest of sharing! https://ursxdol.com/furosemide-diuretic/
This is the compassionate of scribble literary works I rightly appreciate. https://prohnrg.com/product/diltiazem-online/
Thanks on sharing. It’s acme quality. ou trouver du viagra ou cialis super active