#币安安全见解 ### 1. Background and Purpose

The guidelines released by the SEC this time are non-mandatory employee statements aimed at providing a clearer disclosure framework for the issuance and registration of securities related to cryptocurrency assets, helping businesses understand how to submit compliant 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 cryptocurrency market, particularly in the context of the rapid development of tokenized securities and blockchain technology.

### 2. Core Disclosure Requirements

1. **Business Model and Technical Architecture**

Businesses 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 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.