The United States securities regulator is holding off from ratifying the definition of the term “digital assets” in rules that govern reporting disclosures for hedge and private equity funds, despite proposing to do so some nine months ago.
On May 3 the Securities and Exchange Commission published amendments to Form PF — a form that SEC-registered funds complete to disclose basic information about their fund so the regulator can assess potential “systemic risks.”
The SEC originally included a digital assets definition in an August 2022 proposal for the changes. If it went into effect, it would have been the first time the SEC defined “digital assets.”
https://cointelegraph.com/news/sec-steps-back-from-defining-digital-assets-in-new-hedge-fund-rules It doesn't surprise me tho that the SEC would go any length to snuff crypto activities. Since January, it has been jumping from one legal action against crypto exchanges to another and has now served Coinbase a Wells notice.
And that's where the issues has arises in my opinion, SEC doesn't have a clear cut definitions, and they they are like going after crypto exchanges that put damage on the US itself. Coinbase for example might leave and go somewhere else wherein regulations or at least the government as not hard on them.
So far, they seem to be mute as regards the proper definition of regulatory clarity and at present, even the Chamber of Commerce supports the lawsuit filed by Coinbase demanding an answer from the SEC on their take on crypto regulation since most of their members are companies subject to US securities law.
It will really hurt SEC more than others if they continue to be mute on regulations. To the point that they are being mock in public because it's seems that their leaders doesn't know a thing or two about crypto.
