The Commodity Futures Trading Commission has sent a proposed framework for crypto transactions and markets to the White House for review, moving ahead with rulemaking days after the CLARITY Act failed to advance in the Senate.
Summary
- CFTC submitted proposed rules for crypto transactions and markets to the White House for review on Sept. 17.
- The filing came two days after the Senate failed to advance the CLARITY Act in a 49 to 50 procedural vote.
- CFTC Chair Michael Selig had directed staff to develop a crypto market framework using the agency’s existing authority.
- The proposal must return to the CFTC for a vote before publication and public comment.