- Regulator
- U.S. Securities and Exchange Commission (SEC)
- Date filed
- Filed by
- Auditchain Labs AG
- File number
- S7-2026-27
- Release number
- 33-11434
- Release number
- 34-106150
- RIN
- 3235-AN38
- Responding to
- Regulation Crypto Assets
Summary
Our comment on the SEC's proposed Regulation Crypto Assets makes one main request: every disclosure should be readable by computers, not just by people. Under the SEC's proposal, issuers would file most disclosures as ordinary documents. Instead, we recommend that every form use XBRL, the data format the SEC already uses on EDGAR. We also recommend that each filing carry a digital fingerprint recorded on a public blockchain. As a result, anyone can check that what they read is exactly what the issuer filed. To show how this works, we built a data dictionary for Regulation Crypto Assets and nine sample filings for one example company. In addition, we answer each of the SEC's 68 questions about disclosure. Finally, we note that the proposal does not say how markets should trade and hold existing crypto investment contracts. See also our other comments to the SEC.