New SEC Staff Statement Urges Detailed Crypto Token Disclosures
Crypto companies issuing or dealing with tokens that may be securities should provide detailed disclosures, the U.S. Securities and Exchange Commission (SEC) said on Thursday.
The SEC published its latest staff statement on disclosures ahead of its second roundtable — which will focus on trading — “as part of an effort to provide greater clarity on the application of the federal securities laws to crypto assets.”
The nonbinding guidance recommends companies filing disclosures be precise about what their businesses do and what role their tokens may play in those ventures. Much of it is based on observations about what companies have previously disclosed, the statement said. The statement did not delve deeply into which…
