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SEC Wants Firms to Publicly Disclose if They Have Crypto Exposure

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. 

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.

In addition, companies must describe how the bankruptcies of certain firms affected their businesses and that the company must take safeguards to protect its customers' crypto assets. 

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