CFTC Submits Crypto Regulation Plan Amid Senate Failure
The US Commodity Futures Trading Commission has submitted a regulatory plan for crypto asset transactions and markets to the White House for review. The move comes as the agency seeks to establish clearer oversight of the digital asset sector.
The plan, titled 'Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets,' was received by the Office of Information and Regulatory Affairs on September 17. It is currently listed at the 'prerule' stage, indicating that it has not yet been formally proposed.
CFTC Chair Michael Selig previously hinted at this approach in a post on X, stating that the agency was prepared to use its existing authority to establish a crypto asset market regime if legislation stalled. He also directed CFTC staff to explore rules allowing existing registrants and unregistered exchanges to become designated contract markets for leveraged or margined crypto trading.
The SEC has also taken action in response to the Senate's failure to advance the CLARITY Act, announcing temporary exemptions for certain platforms facilitating on-chain trading of tokenized securities.