CFTC Takes Charge with Crypto Rulebook Amid Stalled Congressional Efforts

The Commodity Futures Trading Commission (CFTC) has taken matters into its own hands by pushing forward with its own crypto rulebook, bypassing a stalled Congress. The agency submitted a prerule titled 'Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets' to the White House for review on Tuesday.

The move comes just days after the Clarity Act collapsed in the Senate, falling short of the 60 votes needed to advance. The bill would have established federal rules for digital assets and split oversight between the CFTC and the Securities and Exchange Commission (SEC).

According to a filing posted this week, the CFTC intends to build a framework for crypto derivatives on its own authority rather than wait for Congress. This urgency stems from the failed cloture vote on the Clarity Act.