CFTC Submits Crypto Regulation Plan for White House Review
Regulator moves forward after Senate legislation stalls
The US Commodity Futures Trading Commission (CFTC) has submitted a new regulatory plan for crypto asset transactions and markets to the White House for review. The CFTC is a government agency that oversees markets for commodities like oil, gold, and financial futures.
This action comes just days after the US Senate failed to advance the CLARITY Act. That legislation was intended to create a nationwide legal framework for how digital assets should be regulated in the United States.
Highlights of the regulatory action
- The plan is titled “Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets.”
- It is currently at the "prerule" stage, meaning it is an early step and not yet a formal proposal.
- The filing was received by the Office of Information and Regulatory Affairs on September 17.
- The action follows statements from regulators that they will use existing laws to oversee crypto if new legislation is not passed.
Official statements from regulators and industry leaders
Following the Senate's failure to pass the CLARITY Act, CFTC Chair Michael Selig stated that the agency was ready to create rules for crypto markets using its current legal authority. He previously mentioned exploring rules that would allow crypto exchanges—online platforms where users trade digital currencies—to register as a specific type of market under CFTC oversight.
SEC Chair Paul Atkins also indicated that the Securities and Exchange Commission (SEC) would move forward with its own oversight with or without new laws. Coinbase CEO Brian Armstrong expressed expectations that both agencies would begin working in earnest to provide clarity for the industry using the tools they already have.
Why this step matters for the crypto market
The submission shows that federal regulators are not waiting for Congress to pass new laws before increasing their oversight of digital assets. By moving to the "prerule" stage, the CFTC is signaling its intent to establish a formal regime for how crypto assets are traded and how exchanges must operate.
If the plan moves forward, it could lead to new requirements for both registered and currently unregistered crypto platforms. This could include allowing these platforms to offer leveraged or margined trading, which involves borrowing funds to make larger trades, under official government supervision.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.