CFTC Hands Crypto Rules Over to White House as Clarity Act Stalls

The US Commodity Futures Trading Commission (CFTC) has submitted new crypto market structure rules to the White House Office of Information and Regulatory Affairs for review.

This move comes after the Clarity Act, which aimed to regulate the crypto industry, failed to advance in the Senate with a 49-50 vote, falling short by a single vote.

The CFTC's filing marks a shift from legislative to agency-led oversight of the crypto market, indicating that regulatory efforts may be moving away from Congress and towards federal agencies.