The Commodity Futures Trading Commission is moving ahead with its own first round of crypto market-structure rules after Congress failed to advance the CLARITY Act.

Chairman Michael Selig noted that the existing statutory authority allows regulators to establish clearer rules without waiting for Congress.

It proposes a federal framework for exchanges trading assets including Bitcoin BTCUSD and Ethereum ETHUSD.

What Does The Proposal Include?

CFTC is proposing Regulation Crypto Asset Transactions (Regulation CTX) and Regulation Crypto Asset Markets (Regulation CAM) to establish requirements for CFTC-registered exchanges that offer crypto assets for trading.

The proposals follow an earlier joint CFTC-SEC interpretation.

A broad group of crypto…