美国证券交易委员会（SEC）公司融资部已发表了有关工作证明加密货币挖掘的声明

比特币采矿不涉及对利润的合理期望。矿工贡献自己的计算资源，以赢得奖励并确保网络。在泳池开采方面，任何潜在利润的期望都不是池运营商的努力。

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.

美国证券交易委员会（SEC）的公司融资部已发表了有关工作证明加密货币开采的声明，澄清说，单独采矿和泳池开采都没有暗示证券法。

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.

具体而言，该部门详细阐述了为什么根据1933年《美国证券法》第7条或1934年《证券交易法》第12条的第7条规定的工作证明加密货币矿工和泳池运营商的行为不会提出任何问题。

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.

该声明还旨在洞悉该部门如何在快速发展的数字资产和加密货币领域应用联邦证券法。

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解释说，在比特币的背景下，矿工贡献了自己的计算资源，以赢得奖励并确保网络。在泳池开采方面，任何潜在利润的期望都不是池运营商的努力。

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，利润的潜力取决于比特币的价格，比特币的价格是买卖双方在市场上确定的，而不是泳池运营商或其他矿工的价格。

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.

可以使矿工受益的泳池运营商的一些活动不能满足Howey测试。例如，泳池运营商可以收集和分配交易费用，以向比特币网络提供流动性和效率，该活动是使比特币网络所有用户受益的活动。

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.

比特币是迄今为止最大的工作证明加密货币。属于这一类的硬币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，比特币和以太坊都不是证券。当涉及到比特币时，这一观点也被前SEC主席加里·金斯勒（Gary Gensler）反复重新确认，后者以其臭名昭著的反克里普托（Crypto）立场而闻名。

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，旗舰船币过渡到备忘证后，以太坊的法律地位变得更加复杂。Gensler会反复避开有关令牌是否是安全的问题。

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

与工作证明有关的最新声明是SEC为行业带来监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.

在急剧的政策逆转中，SEC现在对Kraken和Coinbase等著名公司提起了几项诉讼。该机构还放弃了对Ripple的上诉。