CFTC Submits Crypto Rulemaking to White House Amid Senate Rejection of CLARITY Act

The CFTC has submitted its crypto market rulemaking to the White House's Office of Information and Regulatory Affairs (OIRA) for review. This move follows the Senate's rejection of the CLARITY Act, which aimed to regulate digital assets. According to Reginfo.gov, the filing is identified as RIN 3038-AF80, titled 'Regulation of Crypto Asset Transactions and Crypto Asset Markets,' and its contents remain confidential while under review.

CFTC Chairman Michael Selig stated that the agency was 'locked in and ready to ship rules' after the Senate vote, and two days later delivered the filing. The move is described as a pre-rule stage, with the filing showing a receipt date of September 17 and no legal deadlines. However, the White House review under Executive Order 12866 can take up to 90 days with a one-time extension of up to 30 days.

The CFTC filing combines Crypto Asset Transactions with Crypto Asset Markets, covering trade, custody, settlement processes, and the structuring and registration of trading venues. This plan was outlined by Selig in August 2026, who proposed using the agency's existing authorities to explore rules that would 'codify a CFTC market structure for crypto assets.'

Alongside the CFTC move, the SEC issued an innovation exemption giving qualifying platforms a five-year path to offer onchain trading of certain tokenized stocks without registering as securities exchanges. The CFTC also issued no-action relief allowing certain passive software providers, including some crypto wallet interfaces, to connect users with regulated derivatives markets without registering as introducing brokers.