The US SEC releases disclosure guidelines for securities issuance and registration in the cryptocurrency market On April 11th, according to the official website of the US Securities and Exchange Commission (SEC), in order to further clarify the application of federal securities laws in the cryptocurrency market, the SEC's Corporate Finance Department issued a statement to guide the registration and disclosure requirements for relevant securities. The statement covers equity and debt securities related to networks, applications, and encrypted assets, including encrypted assets as part of investment contracts. The guidance covers key disclosure elements in documents such as Regulation S-K, Form S-1, Form 10, etc., such as business description, risk factors, securities characteristics, management information, financial statements, and display requirements for smart contract codes.