The Commodity Futures Trading Commission (CFTC) submitted a proposal to the White House regarding the regulation of crypto asset transactions and markets. The document appeared on the Office of Management and Budget website following a failed Senate vote on the Clarity Act this week.
CFTC Chair Mike Selig confirmed the agency will continue its rulemaking process despite the legislative setback. The regulator aims to finalize these rules before the current presidential term concludes. Selig previously served as chief counsel at the SEC Crypto Task Force.
The SEC is also advancing its own regulatory agenda, recently approving tokenized stock trading and proposing a framework for crypto asset offerings in August. These actions follow President Trump's campaign commitments to support the digital asset sector.
The failed Clarity Act aimed to establish a formal division of oversight between regulators by classifying digital assets as securities, commodities, or stablecoins. Lawmakers had previously debated ethics provisions and potential conflicts of interest related to the bill.
