Company: FWDI
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001683168-25-007923
Chunk: 42

Company: Forward Industries, Inc.
Filing Date: 2025-11-03
Form: 424B5
Chunk 42
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 digital asset commodities that do not utilize margin, leverage, or financing. In addition, CFTC regulations and CFTC oversight
and enforcement authority apply with respect to futures, swaps, other derivative products and certain retail leveraged commodity transactions
involving digital asset commodities, including the markets on which these products trade.

In addition, because transactions in SOL provide
a degree of anonymity, they are susceptible to misuse for criminal activities, such as money laundering. This misuse, or the perception
of such misuse, could lead to greater regulatory oversight of SOL and SOL platforms, and there is the possibility that law enforcement
agencies could close SOL platforms or other SOL-related infrastructure with little or no notice and prevent users from accessing or retrieving
SOL held via such platforms or infrastructure.

As noted above, activities involving SOL and other
digital assets may fall within the jurisdiction of more than one financial regulator and various courts and such laws and regulations
are rapidly evolving and increasing in scope. The laws and regulations applicable to SOL and digital assets are evolving and subject to
interpretation and change.

Governments around the world have reacted differently
to digital assets; certain governments have deemed them illegal, and others have allowed their use and trade without restriction, while
in some jurisdictions, such as the U.S., digital assets are subject to overlapping, uncertain and evolving regulatory requirements.

As digital assets have grown in both popularity
and market size, the U.S. Executive Branch, Congress and a number of U.S. federal and state agencies, including the Financial Crimes Enforcement
Network, the CFTC, the SEC, the Financial Industry Regulatory Authority, the Consumer Financial Protection Bureau, the Department of Justice,
the Department of Homeland Security, the Federal Bureau of Investigation, the Internal Revenue Service and state financial regulators,
have been examining the operations of digital asset networks, digital asset users and digital asset exchanges, with particular focus on
the extent to which digital assets can be used to violate state or federal laws, including to facilitate the laundering of proceeds of
illegal activities or the funding of criminal or terrorist enterprises, and the safety and soundness and consumer-protective safeguards
of exchanges or other service-providers that hold, transfer, trade or exchange digital assets for users. Many of these state and federal
agencies have issued consumer advisories regarding the risks posed by digital assets to investors. In addition, federal and state agencies,
and other countries have issued rules or guidance regarding the treatment of digital asset transactions and requirements for businesses
engaged in activities related to