SEC Clarifies That Proof-of-Work Crypto Mining Is Not a Securities Offering

Written by: Aaron Krowne, Esq. The United States Securities and Exchange Commission (SEC) released a notice on March 20, 2025 (the “Notice”), giving its perspective on certain proof-of-work (PoW) crypto mining operations. The SEC Division of Corporation Finance stated that PoW mining does not involve the offer or sale of securities and thus miners and […]

SEC Broker-Dealer Enforcements Against Crypto Market-Makers: Summary and Implications

Written by: Aaron Krowne, Esq. The U.S. Securities and Exchange Commission (SEC) has been cracking down in recent years on crypto market-makers for allegedly operating as unregistered broker-dealers—firms that execute trades, facilitate transactions, or provide liquidity for others. Many assumed they were exempt from traditional broker-dealer rules due to regulatory uncertainty. However, as the market […]