#SEC加密资产证券披露指南 📢 #SEC Cryptocurrency Asset Securities Disclosure Guidelines: Compliance Key Points and #BTC/USDT Case Analysis 📊

To assist project parties/exchanges in responding to regulation, the following are the core requirements for SEC cryptocurrency asset securities disclosure (using currency pairs as examples):

1️⃣ Legal Structure Statement

Clearly state whether the token constitutes a security, referencing the Howey Test analysis (e.g., BTC is considered a commodity, but some DeFi tokens may be classified as securities)

2️⃣ Risk Assessment

- Market Volatility (e.g., ETH/USDC trading pair affected by stablecoin regulation)

- Cybersecurity Vulnerabilities (e.g., private key management audit report)

- Regulatory Uncertainty (reference SEC litigation cases)

3️⃣ Financial Statement Transparency

Must disclose:

✓ Token issuance financing details (ICO/IEO data)

✓ On-chain reserve proof (e.g., exchange's BTC cold wallet audit)

✓ Related party transactions (development team's token unlocking plan)

4️⃣ Conflict of Interest Disclosure

If the project party also operates a trading platform (e.g., BNB ecosystem), they must explain the market-making strategy and positions

⚠️ Key Reminder: Starting in 2024, the SEC requires all securities-type tokens to provide real-time on-chain trading data (including OTC bulk trades)

#CryptocurrencyCompliance #BlockchainRegulation 🔗 Forward to remind ecosystem partners!