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The SEC issues guidance on the registration and disclosure of securities for cryptocurrency assets
AI Summary
As reported by PANews, the U.S. Securities and Exchange Commission (SEC) has issued a statement through its Division of Corporation Finance to clarify the application of federal securities laws in the cryptocurrency asset market. This guidance aims to assist with the registration and disclosure requirements for securities related to networks, programs, and crypto assets, including those that are part of investment contracts.
The statement addresses key disclosure elements in such documents as Regulation S-K, Form S-1, and Form 10. These elements include a description of the business, risk factors, characteristics of the securities, management information, financial reporting, and the presentation of the smart contract code. The SEC's recommendations are intended to provide clarity on how these requirements apply to equity and debt securities related to crypto assets.