#币安安全见解 ### I. Background and Purpose

The guidelines issued by the SEC are non-binding employee statements, aimed at providing a clearer disclosure framework for the issuance and registration of securities related to crypto assets, helping companies understand how to submit compliance documents in accordance with the Securities Act and the Securities Exchange Act. This initiative reflects the SEC's ongoing attention to the regulation of the crypto market, particularly in the context of the rapid development of tokenized securities and blockchain technology.

### II. Core Disclosure Requirements

1. **Business Model and Technical Architecture**

Companies need to detail their business model, including the specific functions of tokens in the project (such as trading, governance, or service access), technical architecture (whether it is based on open-source technology), development milestones, and expected timelines. If the business relies on third-party blockchains or external networks, relevant dependencies must be disclosed.