U.S. regulators propose asking hedge funds to report their crypto exposure kitconews gold silver mining economics investing finance metals
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According to the proposal, the SEC and Commodity Futures Trading Commission are looking to amend the Form PF process to require funds of at least $500 million to report cryptocurrency exposure under a new category in order “to report digital asset strategies accurately.” The two agencies cited the rapid growth of the hedge fund industry in recent years as the main reason for the proposed changes as well as the fact that cryptocurrencies did not yet exist when the form was originally introduced. The Treasury Department and Federal Reserve were both consulted to ensure that there were no risks to the private-funds industry as a result of the changes.
In a statement from SEC chair Gary Gensler, the regulator noted that “the private fund industry has grown in gross asset value by nearly 150 percent and evolved in terms of its business practices, complexity, and investment strategies.”
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