SEC submits review of disclosure rules for digital assets and hedge funds to White House

The US Securities and Exchange Commission (SEC) has submitted two proposed rules to the White House Office of Management and Budget (OMB) on March 20th, respectively regarding the disclosure of information for digital assets and hedge funds and private equity firms. These proposals were made public on Monday, and the digital asset proposal includes an "innovation exemption" that allows digital asset companies to register as brokers, exchanges, or other regulated entities for a limited period of time. Another rule proposes significant adjustments to the Form PF used by hedge funds and private equity funds. SEC Chairman Paul Atkins has previously postponed the effective date of the new Form PF disclosure to October 1st and stated that he will explore ways to reduce the disclosure burden.