{"id":24129,"date":"2024-07-02T18:00:26","date_gmt":"2024-07-02T15:00:26","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24129"},"modified":"2024-07-02T11:18:11","modified_gmt":"2024-07-02T08:18:11","slug":"sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/","title":{"rendered":"SEC Commissioner Criticizes Agency\u2019s Approach to Crypto Disclosure Rules"},"content":{"rendered":"<p>Describing the general method used to crypto asset filings as &#8220;problematic,&#8221; <strong>SEC Commissioner Mark Uyeda<\/strong> has taken aim at the way his office handles crypto disclosure laws.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/#Concerns_Over_Current_Disclosure_Practices\" title=\"Concerns Over Current Disclosure Practices\">Concerns Over Current Disclosure Practices<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/#Industry_Reaction_and_Ongoing_Legal_Battles\" title=\"Industry Reaction and Ongoing Legal Battles\">Industry Reaction and Ongoing Legal Battles<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Concerns_Over_Current_Disclosure_Practices\"><\/span>Concerns Over Current Disclosure Practices<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Uyeda<\/strong> declared in a July 1 statement on the official SEC website the acceptance of new regulations and form changes to apply the Registered Index-Linked Annuities (RILA) Act. Although the statement mostly covers modifications to Form N-4 submissions, Uyeda gently attacked the SEC&#8217;s treatment of crypto assets.<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/wld-and-bnb-coin-analysis\/\"><em><span style=\"font-weight: 400;\">This Might Interest You: WLD And BNB Coin Analysis<br \/>\n<\/span><\/em><\/a><br \/>\n<strong>Uyeda<\/strong> underlined the shortcomings of the present system in footnote 3 of the statement by calling for modifications to Form S-1 filings to properly represent the special character of digital assets. &#8220;Many of these issuers and crypto digital assets have traits for which Form S-1 may technically require information that is not relevant or applicable but does not require certain information that may be material,&#8221; Uyeda said. He underlined that the present strategy &#8220;neither promotes capital generation nor protects investors.&#8221;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Industry_Reaction_and_Ongoing_Legal_Battles\"><\/span>Industry Reaction and Ongoing Legal Battles<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Head of government relations at cryptocurrency venture capital company <strong>Paradigm Alexander Grieve<\/strong> pointed out that this was the first time Uyeda has openly advocated a customized disclosure rule for cryptocurrencies. &#8220;<em>The SEC under a different admin would be a very different place<\/em>&#8221; Grieved said. Praising Uyeda&#8217;s remarks, the U.S.-based cryptocurrency advocacy organization Blockchain Association also said his approach is &#8220;<em>nuanced, innovation-forward, exactly what the sector needs.<\/em>&#8221;<\/p>\n<p>Just a few days after the SEC sued Ethereum development company Consensys on June 28, claiming that MetaMask&#8217;s wallet application behaved as an unregistered broker engaged in the &#8220;<em>offer and sale of securities<\/em>&#8221; Uyeda&#8217;s comment came The lawsuit includes aimed at Ethereum staking products as Lido DAO and Rocket Pool, MetaMask employs for Ether (ETH) staking.<\/p>\n<p>Consensys sued the SEC in April in response to a Wells notice, contesting efforts to label ETH and associated staking services as securities.<\/p>\n<p><em><a href=\"https:\/\/t.me\/coinengineernews\"><span style=\"font-weight: 400;\">Click here to get the latest news from Coin Engineer!<\/span><\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Describing the general method used to crypto asset filings as &#8220;problematic,&#8221; SEC Commissioner Mark Uyeda has taken aim at the way his office handles crypto disclosure laws. Concerns Over Current Disclosure Practices Uyeda declared in a July 1 statement on the official SEC website the acceptance of new regulations and form changes to apply the<\/p>\n","protected":false},"author":6,"featured_media":24130,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1,2],"tags":[7130,4850],"class_list":["post-24129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-genel","category-news","tag-crypto-disclosure-rules","tag-securities-and-exchange-commission-sec"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC Commissioner Criticizes Agency\u2019s Approach to Crypto Disclosure Rules - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Commissioner Criticizes Agency\u2019s Approach to Crypto Disclosure Rules - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Describing the general method used to crypto asset filings as &#8220;problematic,&#8221; SEC Commissioner Mark Uyeda has taken aim at the way his office handles crypto disclosure laws. Concerns Over Current Disclosure Practices Uyeda declared in a July 1 statement on the official SEC website the acceptance of new regulations and form changes to apply the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-02T15:00:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-02T08:18:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/mark-uyeda.png\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"462\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/\",\"name\":\"SEC Commissioner Criticizes Agency\u2019s Approach to Crypto Disclosure Rules - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/mark-uyeda.png\",\"datePublished\":\"2024-07-02T15:00:26+00:00\",\"dateModified\":\"2024-07-02T08:18:11+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/mark-uyeda.png\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/mark-uyeda.png\",\"width\":960,\"height\":462,\"caption\":\"mark uyeda\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SEC Commissioner Criticizes Agency\u2019s Approach to Crypto Disclosure Rules\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\",\"name\":\"Tanju Akb\u0131y\u0131k\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"caption\":\"Tanju Akb\u0131y\u0131k\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/cetanju\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Commissioner Criticizes Agency\u2019s Approach to Crypto Disclosure Rules - Coin Engineer","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/","og_locale":"en_US","og_type":"article","og_title":"SEC Commissioner Criticizes Agency\u2019s Approach to Crypto Disclosure Rules - Coin Engineer","og_description":"Describing the general method used to crypto asset filings as &#8220;problematic,&#8221; SEC Commissioner Mark Uyeda has taken aim at the way his office handles crypto disclosure laws. Concerns Over Current Disclosure Practices Uyeda declared in a July 1 statement on the official SEC website the acceptance of new regulations and form changes to apply the","og_url":"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/","og_site_name":"Coin Engineer","article_published_time":"2024-07-02T15:00:26+00:00","article_modified_time":"2024-07-02T08:18:11+00:00","og_image":[{"width":960,"height":462,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/mark-uyeda.png","type":"image\/png"}],"author":"Tanju Akb\u0131y\u0131k","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tanju Akb\u0131y\u0131k","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/","url":"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/","name":"SEC Commissioner Criticizes Agency\u2019s Approach to Crypto Disclosure Rules - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/mark-uyeda.png","datePublished":"2024-07-02T15:00:26+00:00","dateModified":"2024-07-02T08:18:11+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546"},"breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/mark-uyeda.png","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/mark-uyeda.png","width":960,"height":462,"caption":"mark uyeda"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/sec-commissioner-criticizes-agencys-approach-to-crypto-disclosure-rules\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"SEC Commissioner Criticizes Agency\u2019s Approach to Crypto Disclosure Rules"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546","name":"Tanju Akb\u0131y\u0131k","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","caption":"Tanju Akb\u0131y\u0131k"},"url":"https:\/\/coinengineer.net\/blog\/author\/cetanju\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/24129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=24129"}],"version-history":[{"count":4,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/24129\/revisions"}],"predecessor-version":[{"id":24164,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/24129\/revisions\/24164"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/24130"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=24129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=24129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=24129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}