The Commodity Futures Trading Commission has sent a proposed framework for regulating crypto transactions and markets to the White House for review, marking another step toward clearer U.S. rules for digital assets.<\/p>\n\n\n\n
The proposal, titled \u201cRegulation Crypto Asset Transactions and Regulation Crypto Asset Markets,\u201d was submitted to the Office of Information and Regulatory Affairs on Sept. 17.<\/p>\n\n\n\n
The filing comes shortly after the Senate failed to advance the Digital Asset Market CLARITY Act, leaving federal regulators with a larger role in shaping crypto policy under their existing legal authority.<\/p>\n\n\n\n
The proposal is still at an early stage and has not taken effect. It must complete White House review before returning to the CFTC, where further action would be required before it could be published for public comment.<\/p>\n\n\n\n
The CFTC\u2019s latest filing represents an effort to develop a more structured framework for crypto markets without waiting for Congress to complete new legislation.<\/p>\n\n\n\n
According to the regulatory filing, the agency submitted its crypto market rulemaking to the Office of Information and Regulatory Affairs, or OIRA, which operates within the Office of Management and Budget.<\/p>\n\n\n\n
OIRA reviews significant federal regulatory actions before agencies move toward publication.<\/p>\n\n\n\n
The full details of the CFTC proposal have not yet been released publicly.<\/p>\n\n\n\n
The review process could also result in changes to the proposal before it returns to the commission.<\/p>\n\n\n\n
CFTC Chairman Michael Selig had previously directed agency staff to examine how the commission could establish a crypto market structure using powers already available under existing law.<\/p>\n\n\n\n
The CFTC has also spent 2026 expanding its broader crypto regulatory work, including coordination with the Securities and Exchange Commission on how federal securities and commodities laws apply to digital assets.<\/p>\n\n\n\n
The CFTC filing came two days after the Senate failed to advance the Digital Asset Market CLARITY Act.<\/p>\n\n\n\n
The legislation was designed to create a clearer federal regulatory structure for digital assets, including how responsibilities would be divided between the CFTC and SEC.<\/p>\n\n\n\n
Under the proposed framework described in the article, qualifying digital commodities and certain spot markets would primarily fall under CFTC oversight, while securities-related activity would remain under the SEC.<\/p>\n\n\n\n
With the legislation still unresolved, federal agencies are continuing to work within their existing statutory authority.<\/p>\n\n\n\n
The CFTC had already been preparing for this possibility.<\/p>\n\n\n\n
At an August Innovation Advisory Committee meeting, the agency discussed crypto market regulation, the lack of a comprehensive federal market structure framework and potential paths toward greater regulatory clarity.<\/p>\n\n\n\n
One potential approach discussed by Chairman Selig would allow certain existing CFTC registrants and currently unregistered crypto exchanges to seek designation under a new crypto-focused market structure.<\/p>\n\n\n\n
Such venues could potentially operate as a form of designated contract market tailored to crypto assets.<\/p>\n\n\n\n
That framework could allow approved platforms to offer products such as leveraged or margined crypto trading while operating under CFTC rules.<\/p>\n\n\n\n
The exact requirements, however, remain unclear because the new proposal has not yet been publicly released.<\/p>\n\n\n\n
Any final structure could change significantly during the White House review, commission consideration and public-comment process.<\/p>\n\n\n\n
The submission to OIRA is only one part of the federal rulemaking process.<\/p>\n\n\n\n
It does not mean the proposed crypto framework has been approved or that new rules are immediately taking effect.<\/p>\n\n\n\n
After OIRA completes its review, the proposal can return to the CFTC.<\/p>\n\n\n\n
The commission would then need to take the appropriate formal steps before the proposed rules could be published for public comment.<\/p>\n\n\n\n
The public-comment stage gives exchanges, developers, investors, financial institutions, industry groups and other stakeholders an opportunity to respond to the proposal.<\/p>\n\n\n\n
The CFTC can then revise the framework before considering any final rule.<\/p>\n\n\n\n
The agency maintains a formal process for public comments on proposed regulations and other regulatory actions.<\/p>\n\n\n\n
The proposed framework follows several other crypto-related regulatory developments at the CFTC.<\/p>\n\n\n\n
Earlier in 2026, the CFTC joined the SEC in providing guidance on how existing federal laws apply to different categories of crypto assets and transactions.<\/p>\n\n\n\n
That guidance discussed digital commodities, stablecoins, digital collectibles and other types of crypto assets while attempting to provide clearer boundaries between securities and commodities regulation.<\/p>\n\n\n\n
The CFTC has also established an Innovation Task Force focused on developing regulatory frameworks for crypto assets, blockchain technology, artificial intelligence and prediction markets.<\/p>\n\n\n\n
These efforts show that the agency is continuing to build out its digital-asset regulatory approach even as Congress debates broader legislation.<\/p>\n\n\n\n
The agency has recently addressed the role of software providers in regulated derivatives markets.<\/p>\n\n\n\n
On Sept. 17, CFTC staff issued a no-action position covering certain providers of passive software.<\/p>\n\n\n\n
Under specified conditions, staff said they would not recommend enforcement action against qualifying software providers for failing to register as introducing brokers.<\/p>\n\n\n\n
The agency’s own public records confirm that the action was issued on Sept. 17 as part of its latest regulatory activity.<\/p>\n\n\n\n
The treatment of software developers has become an important part of broader crypto policy discussions, particularly for developers building noncustodial wallets, interfaces and infrastructure that connect users with financial platforms.<\/p>\n\n\n\n
The CFTC’s proposal is part of a wider effort by federal regulators to define how existing financial rules apply to blockchain-based markets.<\/p>\n\n\n\n
The SEC and CFTC have already worked together on crypto asset classification and jurisdictional questions.<\/p>\n\n\n\n
In March, the agencies issued coordinated guidance intended to clarify how certain digital assets and transactions are treated under federal securities and commodities laws.<\/p>\n\n\n\n
The guidance stated that certain non-security crypto assets could still qualify as commodities under the Commodity Exchange Act.<\/p>\n\n\n\n
The two agencies have also been working under a broader joint initiative aimed at harmonizing federal oversight of crypto markets.<\/p>\n\n\n\n
The CFTC’s rulemaking effort does not necessarily replace congressional efforts to pass a broader digital asset market structure law.<\/p>\n\n\n\n
Legislation could still establish clearer statutory boundaries between regulators and provide specific rules covering crypto exchanges, token classifications and market participants.<\/p>\n\n\n\n
Agency rulemaking, by comparison, relies on powers regulators believe they already possess under existing law.<\/p>\n\n\n\n
This distinction is important because legislation passed by Congress can create new statutory authority, while regulatory agencies generally must operate within authority provided by existing statutes.<\/p>\n\n\n\n
As long as congressional negotiations remain unresolved, the CFTC and SEC are likely to continue using their existing regulatory powers to address digital asset markets.<\/p>\n\n\n\n
The immediate next step is completion of the White House regulatory review.<\/p>\n\n\n\n
After that process is finished, the proposal could return to the CFTC for further consideration.<\/p>\n\n\n\n
If the commission moves forward, the framework could then be published for public comment.<\/p>\n\n\n\n
The agency would be able to review feedback, make changes and eventually consider a final version.<\/p>\n\n\n\n
Until those stages are completed, the proposed CFTC crypto framework remains a developing regulatory initiative rather than a final set of rules.<\/p>\n\n\n\n
The filing nevertheless represents another significant step in the United States’ continuing effort to establish a clearer regulatory structure for crypto trading and digital asset markets.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The Commodity Futures Trading Commission has sent a proposed framework for regulating crypto transactions and markets to the White House for review, marking another step toward clearer U.S. rules for digital assets. The proposal, titled \u201cRegulation Crypto Asset Transactions and Regulation Crypto Asset Markets,\u201d was submitted to the Office of Information and Regulatory Affairs on…<\/p>\n","protected":false},"author":3,"featured_media":16710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[1102,469,104],"class_list":["post-16713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-cftc","tag-crypto-market","tag-framework"],"yoast_head":"\n