U.S. SEC Commissioner Uyeda: SEC should create a "customized" S-1 form for digital asset securities

BlockBeats news, September 3, according to The Block, U.S. SEC Commissioner Mark Uyeda said at the 2024 Korea Blockchain Week event held in Seoul, South Korea on Tuesday that the SEC needs to create a unique S-1 form for digital asset securities.

Uyeda used registered index-linked annuities to illustrate that the SEC's standard registration form may not be suitable for certain financial products. He said that the SEC should work with product sponsors to develop tailored registration requirements. The SEC cannot create a "dilemma" that requires sponsors of digital asset securities to register and provide irrelevant or unavailable disclosures.