比特幣（BTC）採礦活動不構成證券交易，美國證券交易委員會（SEC）澄清

美國證券交易委員會（SEC）闡明了其對工作證明（POW）採礦的立場，裁定比特幣（BTC）採礦活動不屬於根據美國法律的證券交易的定義。

The US Securities and Exchange Commission (SEC) has clarified that proof-of-work (PoW) mining activities do not fall under the definition of securities trading in the US.

美國證券交易委員會（SEC）澄清說，工作證明（POW）採礦活動不屬於美國證券交易的定義。

This statement, which was eagerly awaited by the crypto community, confirms that mining operations on public, permissionless networks are not subject to securities regulations.

加密社區熱切期待的這一聲明證實，公共，無許可的網絡的採礦業務不受證券法規的約束。

New Era For Bitcoin And Dogecoin Miners

比特幣和狗狗礦工的新時代

The SEC’s decision is expected to have substantial implications for leading cryptocurrencies like Bitcoin and Dogecoin (DOGE), both of which rely on the PoW consensus mechanism to validate transactions and add new blocks to their respective blockchains.

預計SEC的決定將對像比特幣和Dogecoin（Doge）等領先的加密貨幣產生重大影響，這兩者都依賴POW共識機制來驗證交易並為各自的區塊鏈增加新的區塊。

In a statement issued on Thursday, the SEC’s Division of Corporation Finance addressed concerns regarding “Protocol Mining,” concluding that these activities do not involve the “offer and sale of securities” as defined under the Securities Act of 1933.

美國證券交易委員會（SEC）的公司財務部在周四發表的聲明中提出了有關“協議挖掘”的擔憂，得出的結論是，這些活動不涉及1933年《證券法》所定義的“證券的要約和銷售”。

“It is the Division’s view that ‘Mining Activities' do not involve the offer and sale of securities within the meaning of Section 2(a)(1) of the Securities Act and Section 3(a)(10) of the Securities Exchange Act of 1934,” the SEC noted.

SEC指出：“司的觀點是，'採礦活動'不涉及《證券法》第2（a）（1）條的含義和1934年《證券交易所法》第3（a）（10）條的含義。”

This determination means that individual miners and mining pools engaged in these activities are not required to register transactions with the Commission under the Securities Act, nor do they need to fall within any exemptions from registration.

這一決定意味著，從事這些活動的個別礦工和採礦池不需要根據《證券法》在委員會中註冊交易，也不需要屬於任何豁免。

Trump Era Regulations

特朗普時代的法規

The SEC’s ruling is particularly important for miners who invest significant resources in computational power and energy costs to secure blockchain networks.

SEC的裁決對於在計算能力和能源成本上投入大量資源以確保區塊鍊網絡的礦工尤其重要。

The decision allows both solo miners and mining pools—where several miners combine their resources to increase their chances of earning rewards—to continue their operations without the burden of regulatory uncertainty.

該決定允許獨奏礦工和採礦池（其中幾個礦工結合了他們的資源來增加他們獲得獎勵的機會）繼續他們的運營而沒有監管不確定性的負擔。

While the SEC did not specify particular blockchains in its statement, the ruling effectively applies to major PoW networks like Bitcoin and Dogecoin.

儘管SEC在其聲明中沒有指定特定的區塊鏈，但該裁決有效地適用於比特幣和Dogecoin等主要的POW網絡。

The Commodity Futures Trading Commission (CFTC) has previously classified these assets as commodities rather than securities, further solidifying the regulatory landscape for these cryptocurrencies.

商品期貨貿易委員會（CFTC）先前已將這些資產歸類為商品，而不是證券，進一步鞏固了這些加密貨幣的監管格局。

This clarification comes amidst a shift in the regulatory environment under US President Donald Trump, who has positioned himself as a pro-crypto leader.

在美國總統唐納德·特朗普（Donald Trump）領導下的監管環境中發生了變化，後者將自己定位為親克萊托普（Crypto）領導人。

Trump’s administration has aimed to make the US a global hub for blockchain and digital assets, establishing the Council of Advisers on Digital Assets to develop industry-friendly regulations.

特朗普的政府旨在使美國成為區塊鍊和數字資產的全球樞紐，建立數字資產顧問委員會，以製定行業友好的法規。

The SEC’s confirmation that PoW mining does not constitute securities dealing may bolster confidence among investors and miners alike, signaling a move towards clearer and more favorable regulations in the cryptocurrency space.

美國證券交易委員會（SEC）的確認，即權力開採不構成證券交易可能會增強投資者和礦工之間的信心，這表明在加密貨幣領域朝著更清晰，更有利的法規邁進了方向。

At the time of writing, Bitcoin trades at $83,875, recording losses of up to 13% in the monthly time frame.

在撰寫本文時，比特幣的交易價格為83,875美元，在每月的時間範圍內記錄的損失高達13％。