CFTC Unveils Secret Two-Part Crypto Regulation Package to White House
The US Commodity Futures Trading Commission (CFTC) has submitted a two-part crypto regulation proposal to the White House. The package, filed under RIN 3038-AF80, includes regulations for crypto asset transactions and markets. A new category of exchange, 'crypto asset markets,' would be introduced, allowing both existing and upcoming exchanges to spot trade digital commodities like Bitcoin (BTC) and XRP under CFTC oversight.
The proposal's specific details remain confidential as it undergoes initial White House review by the Office of Information and Regulatory Affairs (OIRA). OIRA has up to 99 days to complete this review, after which the proposal will go back to the Commission for a vote. Once passed, it will enter the Federal Register and undergo two distinct 60-day public commentary periods.
The development is positive, but a final binding rule is unlikely until late 2027. The CFTC's commitment to guiding the crypto ecosystem follows the recent Clarity Act rejection. This move aligns with previous actions by the SEC, including an exception for crypto and prediction markets software providers from broker classification under certain conditions.