U.S. SEC releases guidance on securities issuance and registration disclosure in crypto asset market

According to the official website of the U.S. Securities and Exchange Commission (SEC), in order to further clarify the applicability of federal securities laws in the crypto asset market, the SEC's Corporate Finance Division issued a statement to guide the registration and disclosure requirements of relevant securities.

The statement covers equity and debt securities related to networks, applications and crypto assets, including crypto assets as part of investment contracts.

The guidance covers key disclosure elements in documents such as Regulation S-K, Form S-1, Form 10, such as business description, risk factors, securities characteristics, management information, financial statements and display requirements for smart contract codes.