The US Commodity Futures Trading Commission (CFTC) has approved a joint agreement. SEC rule. Hedge funds will be enforced c AUM over $500 million to report risks associated with cryptocurrencies.

The initiative is the FSOC’s attempt to improve its ability to control systemic threats and strengthen broader corporate oversight.

Crypto funds will notify regulators in PF form without making the information public. Structures will also need to provide information on the largest positions and borrowings.

“Our aim is to increase the usefulness of the data collected; be sure [хедж-фонд] Congress provides risk disclosure as intended” CFTC Commissioner Christy Goldsmith Romero said in a statement.

The proposal was not supported by her colleague Caroline Pham. She was concerned that the proposed requirements would have unintended consequences for innovation.

“The initiative imposes overly broad obligations that can be unnecessarily burdensome. The rule can cause significant operational problems and costs without a convincing analysis in accordance with the following. Commodity Exchange Act (CEA)»he explained.

Another commissioner, Summer Mersinger, emphasized that the proposal did not sufficiently take into account the contribution of reporting companies. She voted against, too.

The CFTC will accept public comments on proposed changes.

Recall that the media, citing US Deputy Senator Cynthia Lummis, reported a conflict between departments over the authority to oversee crypto companies.

It could be aggravated by the SEC lawsuit against Coinbase’s former employee and accomplices for insider trading. The agency classified 9 out of 25 cryptocurrencies as securities that the defendants used in their transactions. The CFTC criticized the actions of its colleagues.

In July, a group of senators enacted the Digital Products Consumer Protection Act. It obliges firms that offer to trade in digital assets to register with the CFTC.

FTX CEO Sam Bankman-Fried said the bill complements previous initiatives by Cynthia Lummis and Kirsten Gillibrand, as well as Ro Hannah.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.