CFTC Submits Two-Part Crypto Regulation Proposal to White House
The US Commodity Futures Trading Commission (CFTC) has submitted a two-part crypto regulation proposal to the White House Office of Information and Regulatory Affairs. The proposal, filed under RIN 3038-AF80, is split into two sections: Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets.
The outline suggests the introduction of 'crypto asset markets,' allowing existing and upcoming exchanges to spot trade digital commodities like Bitcoin (BTC) and XRP under CFTC oversight. This development comes as part of a string of actions by the CFTC and SEC to guide the crypto ecosystem, following the recent Clarity Act rejection.
The proposal will undergo an initial White House review, with OIRA having up to 99 days to complete it. After that, it will go back to the Commission for a vote, then enter the Federal Register, followed by two 60-day public commentary periods. A final binding rule is unlikely until late 2027.