The U.S. Securities and Exchange Commission (SEC) has issued new guidance clarifying that Bitcoin and other proof-of-work (PoW) mining activities do not constitute securities transactions under U.S. law. This announcement provides significant regulatory clarity for miners operating within the United States. According to the SEC's Division of Corporation Finance, both solo and pooled mining operations are exempt from securities regulations as they involve only administrative or ministerial services. The guidance emphasizes that PoW mining activities do not involve an investment of money in a common enterprise with the expectation of profits derived from the efforts of others, which are key criteria under the Howey Test for determining securities. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io