SEC Commissioner Mark Ueda criticizes the agency's approach to disclosing information about crypto assets, calling it "problematic." Ueda is calling for updating Form S-1, which is used when companies go public or register new securities, to better reflect the unique nature of digital assets. 📝 Ueda argues that the current approach “does not promote capital formation or protect investors.” This is the first time Ueda has called for dedicated disclosure of information about crypto assets.