SEC Commissioner Mark Uyeda has criticized the agency's approach to crypto disclosure rules, calling it "problematic". In a recent statement, Uyeda suggested that Form S-1 filings, used by firms when going public or registering new securities, should be updated to better reflect the unique nature of digital assets. He argued that the current approach neither facilitates capital formation nor protects investors. This is the first time Uyeda has publicly called for a tailored disclosure regime for crypto assets. His comments were praised by the Blockchain Association, a US-based crypto advocacy group.