CFTC and SEC open comments for proposal to amend crypto reporting rules for large hedge funds

Members of the public have until Oct. 11 to submit their comments on the proposed changes.

becoming more common since Form PF was introduced following the 2008 financial crisis.

Among the suggested changes to Form PF included a definition of “digital assets,” potentially requiring certain hedge funds to report earnings based on investments in “virtual currencies”, “coins”, or “tokens” depending on the framework. The public was invited to comment on whether the regulators should use the term “crypto asset” instead of “digital asset.”

“We view these terms as synonymous,” said the proposal. “We are proposing the term and definition to be consistent with the SEC's recent statement on digital assets, and we believe that such term and definition would provide a consistent understanding of the type of assets we intend to address.

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