SEC Should Create ‘Customized’ S-1 Forms For Digital Asset Securities: Commissioner Mark Uyeda !!
During Tuesday’s Korea Blockchain Week 2024 event in Seoul, South Korea, U.S. Securities and Exchange Commission commissioner Mark T. Uyeda said the agency needs to create a distinguished S-1 registration form for digital asset securities.
For context, an S-1 form is the registration statement from the SEC that U.S. issuers must file before offering a new securities product.
Uyeda used registered index-linked annuities to illustrate how the SEC's standard registration form may be inadequate for certain financial products.
He explained that the SEC works with product sponsors to develop tailored registration requirements. On that note, he questioned why the agency couldn’t do the same thing with crypto and digital asset securities.