SEC Submits Digital Asset and Fund Disclosure Rules to White House, Proposes Innovative Exemption Mechanism

Odaily News The U.S. Securities and Exchange Commission has submitted two proposed rules to the White House Office of Management and Budget, concerning disclosure requirements for the digital asset industry and for hedge funds and private equity funds, respectively.

Among them, the digital asset proposal includes an "innovation exemption" mechanism, allowing relevant enterprises to be exempt from registering as regulated entities such as brokers or exchanges for a certain period. The other rule adjusts Form PF, which is used to disclose fund performance and risks.

Furthermore, SEC Chairman Paul Atkins had previously postponed the effective date of the new rules related to Form PF to October 1st and stated that he would explore ways to reduce the disclosure burden. (Bloomberg)