CFTC Sends Crypto Rules to White House for Review
The CFTC has submitted a crypto market-structure rulemaking package to the White House for review, two days after the CLARITY Act stalled in the Senate.
OIRA received the package, titled “Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets,” on September 17.
It is still at the prerule stage, meaning no proposed rule has been published and the actual text remains private.
The CFTC is moving under its existing Commodity Exchange Act authority, so the rulemaking would not replace CLARITY or give the agency all the additional powers the legislation would have provided.
Next comes OIRA review, followed by a potential CFTC vote, public comment period and eventual final rulemaking.
Until the draft is released, the exact assets, markets and activities it would cover remain unknown.
The CFTC has submitted a crypto market-structure rulemaking package to the White House for review, two days after the CLARITY Act stalled in the Senate.
OIRA received the package, titled “Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets,” on September 17.
It is still at the prerule stage, meaning no proposed rule has been published and the actual text remains private.
The CFTC is moving under its existing Commodity Exchange Act authority, so the rulemaking would not replace CLARITY or give the agency all the additional powers the legislation would have provided.
Next comes OIRA review, followed by a potential CFTC vote, public comment period and eventual final rulemaking.
Until the draft is released, the exact assets, markets and activities it would cover remain unknown.
