{"id":65670,"date":"2022-08-11T13:50:22","date_gmt":"2022-08-11T10:50:22","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65670"},"modified":"2025-09-06T21:15:33","modified_gmt":"2025-09-06T18:15:33","slug":"cftc-and-sec-approve-new-reporting-requirement-for-crypto-funds","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/cftc-and-sec-approve-new-reporting-requirement-for-crypto-funds\/","title":{"rendered":"CFTC and SEC approve new reporting requirement for crypto funds"},"content":{"rendered":"

The U.S. Commodity Futures Trading Commission (CFTC) approved<\/a> a joint rule with SEC<\/span> that will require hedge funds with AUM<\/span> over $500 million to report on cryptocurrency-related risks.<\/p>\n

The Initiative<\/a> is an attempt to bolster FSOC’s ability to monitor systemic risks and strengthen broader regulatory oversight across agencies.<\/p>\n

Crypto funds will inform regulators using the PF form, without disclosing information publicly. Structures are also required to provide details of their largest positions and borrowings.<\/p>\n

\n

\u201cOur aim is to increase the usefulness of the collected data; to ensure that the hedge fund discloses risks as intended by Congress,\u201d<\/em> \u2014 said<\/a> CFTC commissioner Christi Goldsmith Romero.<\/p>\n<\/blockquote>\n

Her colleague Caroline Pham did not back the proposal. She expressed concerns that the proposed requirements could have unintended consequences for innovation.<\/p>\n

\n

\u201cThe initiative imposes excessively broad obligations that could be unduly burdensome. The rule could cause significant operational problems and costs without a compelling analysis in accordance with the Commodity Exchange Act (CEA),\u201d<\/em>, \u2014 said<\/a> she.<\/p>\n<\/blockquote>\n

Another commissioner \u2014 Summer Mersinger \u2014 stressed<\/a>, that the proposal does not adequately account for the input from reporting entities. She also voted against it.<\/p>\n

The CFTC will accept public comments on the proposed amendments.<\/p>\n

Earlier reports, citing an aide to U.S. Senator Cynthia Lummis, reported a clash between the agencies<\/a> over the mandate to supervise crypto firms.<\/p>\n

The matter could have been intensified by an SEC suit against a former Coinbase employee and his co-conspirators over insider trading. The agency classified nine of the 25 cryptocurrencies used by the defendants in their operations as securities. The CFTC criticised the actions of its colleagues.<\/p>\n

In July, a group of senators introduced<\/a> the Digital Goods Consumer Protection Act. It would require firms offering trading of digital assets to register with the CFTC.<\/p>\n

FTX founder Sam Bankman-Fried noted that the bill complements earlier initiatives by Cynthia Lummis and Kirsten Gillibrand, as well as Ro Khanna.<\/p>\n

Read ForkLog’s Bitcoin news on our Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. Commodity Futures Trading Commission (CFTC) has approved a joint rule with the SEC. It will require hedge funds with AUM over $500 million to report on cryptocurrency-related risks.<\/p>\n","protected":false},"author":1,"featured_media":65671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[879,1156,36],"class_list":["post-65670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cftc","tag-institutional-investors-and-whales","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=65670"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65670\/revisions"}],"predecessor-version":[{"id":65672,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65670\/revisions\/65672"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/65671"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=65670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=65670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=65670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}