CFTC Submits Formal Crypto Market Regulation Plan to White House

The Commodity Futures Trading Commission has submitted a new regulatory action covering crypto asset transactions and markets to the White House for review, signaling continued momentum toward establishing federal oversight for digital assets. The filing, received by federal regulators, is currently listed at an early “prerule” stage, meaning the regulation has not yet been formally proposed and specific details remain undisclosed.

The submission comes just days after a major crypto regulatory bill failed to advance in the Senate, a bill that would have created a comprehensive federal framework for the digital asset industry.

Agency Leaders Signal Independent Action

Following the failed Senate vote, the CFTC’s chair indicated the agency was prepared to move forward with crypto market rules using its existing legal authority, while the SEC’s chair made similar comments about advancing rules regardless of new legislation. Both agencies followed through quickly, with the CFTC issuing relief for passive software providers and the SEC introducing temporary exemptions for platforms enabling onchain trading of tokenized securities.

Regulators Had Been Preparing for This Scenario

The CFTC had reportedly been exploring paths to advance crypto rules independently even before the Senate vote. In remarks made in August, the agency’s chair explained that staff had been directed to examine how existing and currently unregistered crypto exchanges could become a new type of designated market allowing regulated leveraged trading.

Industry Reaction Reflects Confidence

Coinbase’s CEO had predicted this outcome shortly after the Senate vote, stating that both agencies already possess the tools needed to create clear rules under their current authority and expressing confidence that regulatory clarity for the crypto industry would arrive regardless of the legislative setback.