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The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) voted to advance a proposal to extend reporting requirements for large hedge funds to include cryptocurrency.
- The two regulatory bodies voted Wednesday to amend Form PF, a confidential filing required from private funds' investment advisers such as those working on hedge funds with a net asset value of at least $500 million.
- The proposal involves adding a question about digital assets to reporting requirements that cover private credit and equity and real estate.
- The amendments "are designed to enhance the Financial Stability Oversight Council’s (FSOC) ability to assess systemic risk as well as to bolster the SEC’s regulatory oversight of private fund advisers and its investor protection efforts in light of the growth of the private fund industry," the SEC said.
- The proposal now move to a 60-day comment period.
