The SEC released new guidance for companies on disclosures with cryptocurrency firms after the failure of crypto exchange, FTX
The Securities and Exchange Commission is advising companies to disclose their involvement with digital commodities firms, according to guidance released Thursday.
The guidance comes a day after SEC Chair Gary Gensler defended the agency from claims that it failed to prevent crypto firms from misusing customer funds.An exterior view of the U.S. Securities and Exchange Commission headquarters in Washington.The Securities and Exchange Commission issued new guidance Thursday, requiring companies that issue securities to disclose to investors their exposure and risk to the cryptocurrency market.
The guidance comes about a month after FTX, one of the world's largest cryptocurrency exchanges, filed for bankruptcy after loan customer funds to a risky trading company that was founded by FTX's former CEO Sam Bankman-Fried. Over 100,000 customers were affected by the exchange's failure.
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