; (ii) the amount of money raised by the digital asset issuer in reliance on section 4(a)(8), how much of that money has been spent, and the general categories and amounts on which that money has been spent; and (iii) any material changes to the information in the most recent annual report. (C) Current reports A current report shall be filed with the Commission reflecting any material changes to the information previously reported to the Commission by the digital asset issuer. (4) Termination of reporting requirements (A) In general The ongoing reporting requirements under paragraph (3) shall not apply to a digital asset issuer 180 days after the end of the covered fiscal year. (B) Covered fiscal year defined In this paragraph, the term covered fiscal year means the first fiscal year of an issuer in which the blockchain system to which the digital asset relates is a functional system and certified to be a decentralized system under section 44 of the Securities Exchange Act of 1934. (b) Requirements for intermediaries (1) In general A person acting as an intermediary in a transaction involving the offer or sale of a unit of a digital asset in reliance on section 4(a)(8) shall— (A) register with the Commission as a digital asset broker