美國證券交易委員會（SEC）公司融資部已發表了有關工作證明加密貨幣挖掘的聲明

比特幣採礦不涉及對利潤的合理期望。礦工貢獻自己的計算資源，以贏得獎勵並確保網絡。在泳池開採方面，任何潛在利潤的期望都不是池運營商的努力。

The Division of Corporation Finance of the U.S. Securities and Exchange Commission (SEC) has issued a statement on proof-of-work cryptocurrency mining, clarifying that neither solo mining nor pool mining implicates the securities laws.

美國證券交易委員會（SEC）的公司融資部已發表了有關工作證明加密貨幣開采的聲明，澄清說，單獨採礦和泳池開採都沒有暗示證券法。

Specifically, the Division elaborated on why activities of proof-of-work cryptocurrency miners and pool operators do not raise any issues under Section 7 of the Securities Act of 1933 or Section 12 of the Securities Exchange Act of 1934.

具體而言，該部門詳細闡述了為什麼根據1933年《美國證券法》第7條或1934年《證券交易法》第12條的第7條規定的工作證明加密貨幣礦工和泳池運營商的行為不會提出任何問題。

The statement also serves to provide insight into how the Division applies the federal securities law in the rapidly evolving digital asset and cryptocurrency sector.

該聲明還旨在洞悉該部門如何在快速發展的數字資產和加密貨幣領域應用聯邦證券法。

The SEC explained that in the context of Bitcoin, the miners contribute their own computational resources in order to earn rewards and secure the network. When it comes to pool mining, any potential expectations of profits are not derived from the efforts of pool operators.

SEC解釋說，在比特幣的背景下，礦工貢獻了自己的計算資源，以贏得獎勵並確保網絡。在泳池開採方面，任何潛在利潤的期望都不是池運營商的努力。

Rather, the potential for profit is dependent on the price of Bitcoin, which is determined in the market by buyers and sellers, not the pool operators or other miners.

相反，利潤的潛力取決於比特幣的價格，比特幣的價格是買賣雙方在市場上確定的，而不是泳池運營商或其他礦工的價格。

Some of the activities of the pool operators that can benefit miners do not satisfy the Howey Test. For instance, pool operators may collect and distribute transaction fees to provide liquidity and efficiency to the Bitcoin network, which is an activity that benefits all users of the Bitcoin network.

可以使礦工受益的泳池運營商的一些活動不能滿足Howey測試。例如，泳池運營商可以收集和分配交易費用，以向比特幣網絡提供流動性和效率，該活動是使比特幣網絡所有用戶受益的活動。

Bitcoin is by far the biggest proof-of-work cryptocurrency. Some other examples of coins that fall into this category include Dogecoin, Litecoin, and Monero.

比特幣是迄今為止最大的工作證明加密貨幣。屬於這一類的硬幣的其他一些例子包括Dogecoin，Litecoin和Monero。

Back in June 2018, the SEC stated that both Bitcoin and Ethereum were not securities. When it comes to Bitcoin, this view was also repeatedly re-affirmed by former SEC Chair Gary Gensler, who was known for his notoriously anti-crypto stance.

早在2018年6月，SEC表示，比特幣和以太坊都不是證券。當涉及到比特幣時，這一觀點也被前SEC主席加里·金斯勒（Gary Gensler）反復重新確認，後者以其臭名昭著的反克里普托（Crypto）立場而聞名。

However, Ethereum’s legal status became more complicated after the flagship altcoin transitioned to proof-of-stake back in December 2020. Gensler would repeatedly dodge questions about whether or not the token is a security.

但是，在2020年12月，旗艦船幣過渡到備忘證後，以太坊的法律地位變得更加複雜。Gensler會反复避開有關令牌是否是安全的問題。

The most recent statement related to proof-of-work is the SEC’s latest effort to bring regulatory clarity to the industry.

與工作證明有關的最新聲明是SEC為行業帶來監管清晰度的最新努力。

In a sharp policy reversal, the SEC has now dropped several lawsuits against such prominent companies as Kraken and Coinbase. The agency has also abandoned its appeal against Ripple.

在急劇的政策逆轉中，SEC現在對Kraken和Coinbase等著名公司提起了幾項訴訟。該機構還放棄了對Ripple的上訴。