Crypto News: SEC Proposes New Definition for Digital Assets and Revised Reporting Requirements for Funds
The Securities and Exchange Commission (SEC) has proposed a new definition of digital assets, including virtual currencies, coins, and tokens, as assets used in transfers via distributed ledger or blockchain technology.
Currently, funds disclose their digital assets under “other” categories, resulting in incomplete data for analysis.
The SEC believes that a more precise reporting system is necessary to better understand market exposures.
Meanwhile, revisions to the regulations governing the SEC’s Form PF require SEC-registered funds to report significant events that may indicate systemic risk or harm to investors.
This change aims to improve transparency and protect investors. The SEC hopes that by requiring more comprehensive disclosures, investors will have greater confidence in the market.
Related News: Nigeria Introduces National Blockchain Policy
