CFTC Sends Crypto Rules to White House Amid CLARITY Act Stall
The Commodity Futures Trading Commission (CFTC) has submitted proposed rules for the crypto market to the White House's Office of Information and Regulatory Affairs (OIRA).
This move comes after the Senate stalled the CLARITY Act, which aimed to provide clarity on cryptocurrency regulations. Despite the setback, CFTC Chairman Mike Selig signaled that the agency will continue with its rulemaking efforts.
The proposed rules have not been disclosed to include specific assets, exchanges, or activities, but their submission advances them into federal review.
This process may lead to a public comment period before final rulemaking. The CFTC's move demonstrates its commitment to regulating the crypto market and addressing concerns about investor protection and market manipulation.