Although Bitcoin mining is not banned, the guidance introduces legal uncertainty for miners in the U.S., encouraging the search for jurisdictions with more favorable regulations, such as El Salvador or Paraguay.
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https://larepublica.pe/zona-crypto/2025/03/20/the-us-securities-and-exchange-commission-sec-issues-new-guidance-on-proofofwork-mining-what-does-it-mean-for-bitcoin-hnews-1283040