Reporter/Wang Huirong
The subordinate department of the US Securities and Exchange Commission said that US companies should disclose their risk exposure to the crypto asset market to investors, as well as the impact of the recent turmoil in the crypto market on their business.
Securities and Exchange Commission (SEC)
On December 8 local time, the Division of Corporation Finance of the Securities and Exchange Commission (SEC) issued new guidance, stating that American companies should specifically disclose to investors the impact of major events in the crypto asset market on their business, including the company's risk exposure in the crypto asset market.
The guidance includes a sample letter to Companies Regarding Recent Developments in Crypto Asset Markets (hereinafter referred to as the model letter). The Finance Department of SEC emphasized that, The guidance is not an official regulation, regulation or statement of the Securities and Exchange Commission of the United States, and has no legal effect 。
According to the guidance, the bankruptcy and financial difficulties of crypto asset companies have caused widespread turbulence in the market. The Financial Department of SEC believes that American companies should evaluate their information disclosure in order to specifically and specifically disclose to investors similar major events and situations in the crypto asset market, the company's business status under these events and the potential impact on investors.
The guidance notes that the model letter focuses on clarifying the necessity for the company to disclose the significant impact of the development of the crypto asset market on it, and the disclosure contents include but are not limited to: The Company's risk exposure to counterparties and other crypto asset market participants; Risks related to the Company's liquidity and financing capacity; And risks associated with legal proceedings, investigations or regulation of the crypto asset market.
the near future, The crypto market continues to be turbulent due to the FTX bankruptcy event of the crypto currency exchange, which has attracted the attention of multinational financial regulators.
Since the foreign media Coindesk disclosed a financial document of the FTX "sister trading company" Alameda Research on November 2 local time, a series of market news triggered the currency circle earthquake. FTX was declared bankrupt in the face of liquidity crisis, and then BlockFi, the crypto lending platform, filed for bankruptcy. Genesis, one of the world's largest crypto currency lending platforms, was also facing liquidity crisis and was still seeking investment to avoid going bankrupt.
As early as a few months ago, the U.S. Securities and Exchange Commission (SEC) began to investigate FTX.us, the U.S. subsidiary of FTX Exchange, and its encryption lending activities, including customer fund processing and loan issues.
In November, the Monetary Authority of Singapore (MAS) made a statement on a series of problems and misunderstandings after the collapse of the cryptocurrency exchange FTX.
In December, the Financial Services Committee of the US House of Representatives will hold a hearing on the FTX bankruptcy.
The Japanese financial regulatory authority announced on December 9, local time that the FTX Japanese subsidiary would suspend operations until March 9, 2023.
