US Commodity Futures Trading Commission Submits Crypto Regulation Framework

The US Commodity Futures Trading Commission (CFTC) has submitted its rulemaking file for regulating crypto transactions and markets to the White House for review.

This move comes after the CFTC's Chairman Michael Selig stated that if comprehensive federal rules, as proposed in the CLARITY Act, failed to advance, the agency would use its existing authorities to create a framework for crypto asset markets.

The CFTC's rulemaking file, titled 'Regulation of Crypto Asset Transactions and Crypto Asset Markets', is currently undergoing review by the Office of Information and Regulatory Affairs (OIRA) within the Office of Management and Budget (OMB).