The Securities and Exchange Commission, Division of Corporation Finance, has issued a statement on digital assets as it seeks to provide greater clarity to crypto markets.
During the previous Commission, led by the Democrats, the SEC sought to undermine the digital asset offering. While telling digital firms to “come in and register,” the declaration was more of a trap, as the SEC did not approve any offerings.
Today, the Division of Corporate Finance states that it welcomes questions about the application of the SEC’s disclosure rules to offerings and registrations, as well as any ongoing reporting obligations.
They also welcome requests for other assistance, like no-action letters.
This statement addresses disclosures provided in response to existing disclosure requirements. While disclosures should be based on an issuer’s specific facts and circumstances, they believe that issuers may benefit from the identification of common issues they have identified during our reviews.
The statement specifically addresses the registration of securities. There remain questions about digital assets, which may be commodities, may be utilities, or could be collectibles.
The statement by the SEC is available here or can be downloaded here.