The US SEC will launch a "Disclosure Day" series of reforms, focusing on crypto asset regulation.

Jinse Finance reported that James Moloney, the new head of the Division of Corporation Finance at the U.S. Securities and Exchange Commission (SEC), stated that he will advance the core agenda of SEC Chairman Paul Atkins, aiming to lower listing thresholds, rationalize regulatory requirements, ensure investors have access to necessary information, and simplify rules to encourage companies to remain publicly listed. Moloney described the upcoming reforms as a “Disclosure Day” series akin to Hollywood blockbusters. The key points of the reforms include: 1. Crypto asset regulation: providing a taxonomy for crypto assets and a framework for determining when they constitute investment contracts; for crypto assets subject to investment contract constraints, proposing rational issuance and trading structure solutions. 2. Foreign Private Issuer (FPI) reporting reform: implementing the Holding Foreign Insiders Accountable Act, requiring Section 16 reporting. 3. Financial and disclosure simplification: offering listed companies the option of semi-annual reports as an alternative to quarterly reports, and reducing executive compensation and other disclosure burdens under Regulation S-K.