The U.S. Securities and Exchange Commission issued letters to companies flagging the need to disclose any potential impacts from mayhem in the crypto markets. jesseahamilton nikhileshde report
Crypto’s pains are being shared by a wide array of companies, and the U.S. Securities Exchange Commission is warning public companies that if they’ve got a stake in the industry’s recent torments, they’d better tell investors.
A sample letter to such companies are asking, for instance, if they face any risks to their businesses “due to excessive redemptions, withdrawals, or a suspension of redemptions or withdrawals, of crypto assets.” The wider SEC has been in a general standoff with much of the crypto industry, insisting that many of the digital assets platforms should be registered exchanges, while many of those firms argue that they’re either not involved with securities or the agency hasn’t properly defined crypto securities.
Thursday’s document said the sample questions it would send out are not “exhaustive,” saying that companies should evaluate their own specific risks and concerns.
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