U.S. President Donald Trump has told a crowd of crypto professionals in New York that cryptocurrencies will expand the dominance of the U.S. dollar, saying the sector is “as big as you can get.”

Cryptocurrency exchange Kraken has said it agreed to acquire U.S. retail futures trading platform NinjaTrader for roughly $1.5 billion as it moves to expand its user base and its presence in traditional finance markets.

The U.S. Securities and Exchange Commission (SEC) has said that Proof-of-Work crypto mining doesn’t fall under federal securities laws, according to a recent staff statement.

Top stories in the Crypto Roundup today:

• Crypto Will Strengthen U.S. Dollar, Trump Says
• Kraken to Acquire NinjaTrader for $1.5 Billion as it Expands to U.S. Futures Trading
• SEC Says Proof-of-Work Mining Doesn’t Violate Securities Laws

Crypto Will Strengthen U.S. Dollar, Trump Says

U.S. President Donald Trump has told a crowd of crypto professionals in New York that cryptocurrencies will expand the dominance of the U.S. dollar, saying the sector is “as big as you can get.”

Speaking via a short prerecorded video at the Digital Asset Summit in Manhattan, Trump praised the crypto industry’s role in fostering innovation and growth, but did not unveil any new policy initiatives.

"Pioneers like you will be able to improve our banking and payment system and promote greater privacy, safety, security and wealth for American consumers and businesses alike. You will unleash an explosion of economic growth,” Trump told the crypto crowd.

Trump pointed out his administration has reversed several actions taken under the previous one, including halting sales of seized bitcoin and ending what he called the “regulatory war on crypto” - a reference to Operation Choke Point, which he said “went beyond regulation, and I mean far beyond.”

Kraken to Acquire NinjaTrader for $1.5 Billion as it Expands to U.S. Futures Trading

Cryptocurrency exchange Kraken has said it agreed to acquire U.S. retail futures trading platform NinjaTrader for roughly $1.5 billion as it moves to expand its user base and its presence in traditional finance markets.

NinjaTrader, a CFTC-licensed platform launched in 2003, provides trading tools for retail futures contracts traders and serves almost 2 million customers. Its registration with the CFTC would allow Kraken to offer crypto derivatives in the U.S.

The deal would also allow the Chicago-based NinjaTrader platform to expand into the U.K., EU, and Australia, where Kraken has licenses. 

NinjaTrader, under Kraken’s suite of trading and payments applications, is expected to keep on operating as a standalone platform.

SEC Says Proof-of-Work Mining Doesn’t Violate Securities Laws

The U.S. Securities and Exchange Commission (SEC) has said that Proof-of-Work crypto mining doesn’t fall under federal securities laws, according to a recent staff statement.

The statement, issued by the SEC’s Division of Corporation Finance, clarified that both solo and pooled Proof-of-Work mining operations do not satisfy the first prong of the Howey Test - the legal framework used to determine what constitutes an investment contract.

These operations don’t satisfy the first prong of the Howey Test as they are “not undertaken with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others.”

This means cryptocurrency miners, whether operating independently or through pools, are not required to register their transactions with the SEC.

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