SEC staff issues “Dear Issuer” letter regarding crypto assets

On December 8, the SEC’s Division of Corporation Finance posted examples of comments that the Division may issue to companies regarding their disclosures about recent developments in crypto asset markets. The sample comments focus on the need for clear disclosure about a company’s exposure to counterparties and other market participants; risks related to a company’s liquidity and ability to obtain financing; and risks related to legal proceedings, investigations, or regulatory impacts in the crypto asset markets. It reminds companies to consider the need to address crypto asset market developments in their filings generally, including in their business descriptions, risk factors, and management’s discussion and analysis.

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