The SEC is keeping a closer eye on crypto following FTX’s collapse.
The SEC’s Division of Corporation Finance — the branch that ensures companies disclose necessary information to investors — issued the guidance, which is supposed to help companies prepare disclosure documents. It doesn’t formally introduce new disclosure requirements, but the set of recommendations is a sign that the regulator’s keeping a closer eye on crypto.
As noted in the sample letter, the SEC says companies should discuss whether they’ve been exposed to crypto firms that have filed for bankruptcy, suspended withdrawals, or experienced an excessive amount of withdrawals. It also asks companies to outline the steps they’re taking to secure customers’ crypto assets, as well as whether the disruption in the crypto market has caused them “reputational harm.
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