The United States Securities and Exchange Commission, or SEC, and the Commodity Futures Trading Commission, or CFTC, have called for comments on a proposal which would require large advisers to certain hedge funds to report exposure to crypto.
In a joint proposed rule published to the Federal Register on Sept. 1, the SEC and CFTC established a 40-day comment period for amendments to Form PF, the confidential reporting document for certain investment advisers to private funds of at least $500 million. The proposal suggested qualifying hedge funds report exposure to crypto in a different category other than “cash and cash equivalents,” as the current iteration of Form PR does not specifically mention cryptocurrencies.
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