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ARTICLE · 24 APRIL 2025

SEC Clarifies Stance On Disclosures Relating To Crypto Assets

Lowenstein Sandler LLP
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Lowenstein Sandler LLP

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The Guidance provides the Division's views regarding certain disclosure requirements under Regulation S-K, specifically with respect to disclosures contained within Form S-1 (registration statements)...

United StatesTechnology
Ryne Miller
Ryne Miller
Ethan L. Silver
Ethan L. Silver
Daniel Forman
Daniel Forman
Leo B. Choi
Leo B. Choi
Rishabh Sharma
Rishabh Sharma

What You Need To Know:

On April 10, the Securities and Exchange Commission's (SEC) Division of Corporation Finance (the Division) issued a comprehensive statement providing guidance on the application of federal securities laws to offerings and registrations of securities with respect to crypto asset markets (the Guidance). While the Guidance does not address whether certain crypto assets are securities, it may be helpful for a company that is issuing securities and is:

  • Developing a blockchain network or protocol or a related service
  • Registering the offering of an investment contract in connection with an initial coin offering
  • Issuing a crypto asset that is itself a security because, for example, it provides a revenue stream based on the issuer's performance

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