SEC and Court Declare Crypto Mining Devices as Securities

Sep 25, 2024, 05:03 PM

The U.S. Securities and Exchange Commission (SEC) has officially declared that crypto mining devices, including Bitcoin mining rigs, are considered securities. This announcement has sparked significant reactions within the crypto community. The SEC's decision marks a pivotal shift in how these devices are regulated, potentially impacting the operations of crypto miners and the broader cryptocurrency market. The SEC Commissioner expressed that this classification should have been established a long time ago. The court's ruling in an SEC case confirmed this classification.