According to reports by Wu, the U.S. Securities and Exchange Commission's Division of Corporation Finance has issued a statement providing specific disclosure requirements for securities offerings and registrations in the cryptocurrency market. The statement points out that offerings may involve equity or debt securities related to networks, applications, or cryptocurrency assets. The SEC emphasizes 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 promptly update it when changes occur.