The U.S. Securities and Exchange Commission (SEC) has submitted two new proposed rules to the White House Office of Management and Budget (OMB) for review, focusing on digital assets and disclosure requirements for hedge funds and private equity firms. Submitted on March 20 and made public on Monday, the digital asset proposal includes an "innovation exemption" allowing digital asset companies temporary relief from registering as brokers, exchanges, or other regulated entities. The second rule proposes significant changes to Form PF, used by hedge funds and private equity funds to report performance and risk metrics. SEC Chairman Paul Atkins, who previewed the digital asset proposal last week, had previously delayed the effective date of new Form PF disclosures introduced during Gary Gensler's tenure to October 1, indicating a willingness to explore ways to reduce disclosure burdens.