What to know:

• The SEC released a staff statement on Thursday declaring proof-of-work crypto mining, both solo and pooled, to be outside its jurisdiction.
• The statement comes a month after the SEC's Division of Corporation Finance published a similar statement suggesting that most memecoins do not constitute securities.

Proof-of-work cryptocurrency mining does not trigger federal securities laws, according to a Thursday staff statement from the U.S. Securities and Exchange Commission (SEC) which told mining operators they do not need to register their transactions with the regulator.

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The statement, published by the SEC’s Division of Corporation Finance, declared that both solo proof-of-work crypto mining and pooled proof-of-work crypto mining do not meet the definition of a securities transaction under the Howey Test — the legal framework used to determine whether a transaction represents an investment contract — because they are “not undertaken with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others.”

The statement puts to rest any lingering fears that the SEC’s enforcement...

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