The U.S. Commodity Futures Trading Commission has formally sent its proposed crypto market rules to the White House Office of Information and Regulatory Affairs, pressing forward after the Senate stalled the CLARITY Act this week.
The proposal was submitted to OIRA on Thursday, moving it into the federal review process that precedes formal rulemaking. The CFTC has not disclosed which crypto assets, exchanges, or market activities the rules would cover, leaving industry participants without details on the scope of the framework.
After OIRA completes its review, the CFTC may publish the proposal for public comment before considering final rules. The filing signals that the agency intends to continue its crypto rulemaking despite legislative obstacles.
CFTC Chairman Mike Selig addressed the agency's direction on Wednesday, saying, “The CFTC is locked in and ready to ship its rules for the new frontier of finance.” His remarks suggest the agency will rely on its existing authority to craft rules rather than waiting for Congress to pass new legislation.
The stalled CLARITY Act had been a legislative effort to clarify digital asset jurisdiction, but its setback in the Senate has not halted the CFTC's regulatory push. Market participants will now watch whether the White House review leads to a formal proposal and how broadly the eventual rules may affect trading platforms, intermediaries, and digital asset products.
