CFTC Moves Crypto Rules to White House Amid Stalled Legislation

The update

The U.S. Commodity Futures Trading Commission (CFTC) has submitted a regulatory action titled “Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets” to the White House for review. The filing, received on Sept. 17, places the proposal in the “prerule” stage, indicating an early stage of the rulemaking process. This move comes days after the Senate failed to advance the CLARITY Act, which sought to establish a federal regulatory framework for crypto markets.

Why it matters

With congressional action stalled, the CFTC is moving forward using its existing statutory authority. Chair Michael Selig indicated the agency is prepared to establish a crypto asset market regime, potentially allowing existing registrants and unregistered exchanges to become designated contract markets under CFTC oversight. Concurrently, the SEC is advancing its own path for tokenized stock trading, suggesting a parallel regulatory approach may emerge in the U.S. digital asset sector.

What to watch

Details of the proposed rules remain undisclosed. Market participants should monitor whether the CFTC’s framework creates a distinct regulatory path for crypto assets or if it will conflict with future legislation or the SEC’s approach to tokenized securities.

Sources

• coindesk.com — Context on CFTC and SEC parallel actions
• cointelegraph.com — Specific details on the filing and rulemaking stage