The SEC has submitted digital asset and hedge fund disclosure rules to the White House, proposing an "Innovation Exemption."

BlockBeats News, March 23rd, according to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has submitted two new proposed rules to the Office of Management and Budget (OMB) for review, involving digital assets and disclosure requirements for hedge funds and private equity firms. The proposal was submitted on March 20th and made public on Monday. SEC Chairman Paul Atkins teased the digital asset proposal last week, which includes an "Innovation Hub" allowing digital asset firms to temporarily register as brokers, exchanges, or other regulated entities.

The other rule pertains to significant changes to Form PF, used by hedge funds and private equity funds to report performance and risk metrics. Atkins had previously delayed the effective date of the new Form PF disclosure developed during Gary Gensler's tenure to October 1st and indicated an intention to explore ways to reduce disclosure burdens.