TechFlow news, SEC Commissioner Mark T. Uyeda said at Korea Blockchain Week 2024 that the U.S. Securities and Exchange Commission (SEC) needs to create a dedicated S-1 registration form for digital asset securities.
Uyeda noted that the SEC has flexibility to tailor registration requirements for specific financial products, and this approach should extend to cryptocurrencies and digital asset securities.
He emphasized that the SEC should not create a "catch-22" by requiring digital asset securities issuers to provide irrelevant or unobtainable disclosure information. Uyeda also stated that the SEC should clarify which digital assets fall within the scope of securities and consider practices from other global jurisdictions in its future rulemaking.
Nonetheless, digital assets are currently not included in SEC Chair Gary Gensler's regulatory agenda.
