According to reports from Wu, the U.S. Securities and Exchange Commission's Division of Corporation Finance issued a statement providing specific disclosure requirements for the issuance and registration of securities in the cryptocurrency market. The statement noted that the issuance may involve equity or debt securities related to networks, applications, or cryptocurrency assets. The SEC emphasized that issuers should provide clear and complete information regarding business descriptions, risk factors, characteristics of the securities, technical architecture, governance mechanisms, supply mechanisms, management teams, financial statements, and appendices. Especially in cases where the rights and obligations of cryptocurrency assets are encoded through smart contracts, issuers should submit the relevant code as an attachment and update it promptly when changes occur.