SEC says some of the proof of encryption is not safe – the professor’s notebook visions

Yesterday, the Securities and Stock Exchange Committee took a big step in starting to provide organizational clarity on encrypted currencies, by issuing a Note Saying that individual mining and assembly to prove the work of the work ban will not generally be considered securities.

The essence of the argument is that in both cases the expectation of profit depends on the efforts of the mining factor, not for others. How to make profit is required based on third parties.

SEC President SEC at SEC UYDA and the PEIRCE complained that the Supreme Education Council under the previous administration failed to provide clarity on encrypted currencies and instead he aims to organize by enforcement. They are now trying to correct the course.

What about proving the class?

While Bitcoin miners play an important role, the vast majority of Blockchains today use proof of a network to secure the network rather than proving work. So, the biggest question is how will the deceptive be dealt with? There are some expectations that the deception may not be classified on its own as safety, because the purpose of this is to secure the network. However, it remains to see.

On the other hand, there is a reasonable possibility that the deception can be considered as a service that includes securities in many cases. Stacking-AS-A-Service includes the final users who delegate their coins to a third party, and who collect them on their behalf.

When SEC closed the Kraken’s Staking two years ago, in one of its most explicit models, Commissioner Pierce said The work of a “parental and lazy” organizer was. However, her opposition was more about SEC neither providing organizational clarity nor a path to the evaluation service provider to become organized. She noted that the topic “raises a set of complex questions, including whether the Stokeing program will be recorded as a whole or whether each program will be recorded separately.”

the Appropriate law Digital assets have been passed before House last year (But not the Senate). It included a condition that indicates Stokeing, and its classification as “the distribution of the end user”, which is explicitly excluded from his treatment as an investment contract under the law.

However, this not only applies to “activities related directly to the operation of the Blockchain system, such as mining, checking the activity, or any other activity directly linked to the operation of the Blockchain system”. Again, it can be said that this is dedicated to those who perform a stokeing directly but do not cover the deception as a service.