SEC wants firms to disclose if they have crypto exposure

12/08 23:41

The U.S. Securities and Exchange Commission wants companies to publicly disclose if they have exposure to crypto assets, including whether they do business with any crypto-related companies. The regulatory agency, which oversees disclosures for public companies in the U.S., said the guidance is due to, "Recent bankruptcies and financial distress among crypto asset market participants," that occurred this year, most recently the high-profile implosion of FTX and its corporate family. " Firms must disclose if they have direct or indirect relations with companies that have filed for bankruptcy, experienced excessive redemptions or withdrawals of crypto assets, maintain unaccounted crypto assets of customers and experienced corporate compliance failures.

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