1. Uyeda's Statement at Korea Blockchain Week 2024
2. SEC's Approach to Digital Asset Regulation
3. International Approaches and Future Hopes

Mark T. Uyeda, a member of the U.S. Securities and Exchange Commission (SEC), has called for the creation of customized S-1 registration forms specifically tailored for digital assets. Uyeda emphasized the need to adapt the regulatory framework to better manage digital assets.

Uyeda's Statement at Korea Blockchain Week 2024

Speaking at the Korea Blockchain Week 2024 event in Seoul, Mark T. Uyeda highlighted the importance of creating specialized S-1 registration forms for digital assets. Currently, U.S. issuers are required to fill out an S-1 form, which demands comprehensive disclosures including income statements and cash flow statements, before offering new securities products.

SEC's Approach to Digital Asset Regulation

Uyeda noted that the SEC has previously worked with product sponsors to develop specific registration requirements for certain financial products, such as registered index-linked annual incomes, but the same approach has not been applied to digital assets. He expressed concerns that the SEC might create a situation where digital asset sponsors have to make irrelevant disclosures or face registration hurdles.

International Approaches and Future Hopes

Uyeda emphasized that regulatory uncertainty remains a contentious issue for the digital asset industry. Despite his suggestions, SEC Chairman Gary Gensler has not prioritized digital asset regulation. Uyeda expressed hope that future SEC leadership might resolve regulatory issues through new legislation or rule-making. He also mentioned the importance of considering international approaches to digital asset regulation in jurisdictions such as the EU, South Korea, and Japan.

Uyeda, whose term as an SEC member continues until June 2028, stressed that his views are personal and do not reflect the agency’s positions. His call for specialized S-1 forms could signal a potential shift towards more tailored regulatory solutions for digital assets in the future.