SEC Releases Statement on Application of Securities Laws to Crypto Assets

The staff in the SEC’s Division of Corporation Finance (the “Division”) has released a statement on “the application of certain disclosure requirements under the federal securities laws to offerings and registrations of securities in the crypto asset markets.” Specifically, the statement discusses the Division’s views on (1) “certain disclosure requirements set forth in Regulation S-K as they apply to Securities Act registration forms (such as Form S-1) and Exchange Act registration forms (such as Form 10)” and (2) “certain disclosure requirements of Form 20-F when used by foreign private issuers to register classes of securities under the Exchange Act, and Form 1-A for offerings exempt from registration under Regulation A.” Disclosure requirements addressed included those related to the following topics: