The U.S. Securities and Exchange Commission (SEC) has issued new guidance regarding crypto asset securities under the leadership of Chairman Paul Atkins. This marks a pivotal shift in regulatory practices, as the SEC aims to clarify disclosure requirements for companies issuing crypto securities, including debt and tokenized real-world assets. The guidance, which is the first serious attempt to align traditional disclosure logic with tokenized systems, was released during a roundtable discussion involving SEC commissioners. Additionally, the SEC is considering a regulatory sandbox to allow crypto exchanges to experiment with innovations before formal regulations are established. Amid these developments, there are reports that the SEC may also pursue the delisting of Chinese companies from U.S. exchanges due to concerns about compliance with U.S. disclosure laws. This move could potentially affect hundreds of Chinese firms operating in the U.S. market. The SEC's recent actions signal a renewed focus on balancing innovation in the crypto space with necessary regulatory oversight.