SEC commissioners call for the creation of a dedicated S-1 registration for digital asset securities

ChainCatcher news, according to The Block, SEC Commissioner Mark T Uyeda stated at the Korea Blockchain Week 2024 event that the SEC needs to create a dedicated S-1 registration for digital asset securities.

Uyeda pointed out that the SEC has the flexibility to tailor registration requirements for specific financial products, and this approach should extend to the realm of cryptocurrencies and digital asset securities. He emphasized that the SEC should not create a "catch-22" situation by requiring digital asset securities issuers to provide irrelevant or unattainable disclosure information. Uyeda also stated that the SEC should clarify which digital assets fall under the category of securities and consider the practices of other jurisdictions globally in future rule-making. Nevertheless, digital assets are currently not included in SEC Chairman Gary Gensler's regulatory agenda.