SEC States Bitcoin Mining Contracts May Be Securities Amid $48M Fraud Case
The U.S. Securities and Exchange Commission clarified that certain third-party Bitcoin mining agreements can fall under securities rules, while Bitcoin mining itself is not classified as a security.
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Terms & Concepts
Securities and Exchange Commission (SEC): The U.S. federal agency responsible for regulating securities markets and protecting investors.
Bitcoin mining: The process of validating Bitcoin transactions and adding them to the blockchain in exchange for newly issued Bitcoin.
Security: A tradable financial asset, such as stocks or bonds, regulated under specific laws.