On September 17, 2026, the Commodity Futures Trading Commission (CFTC) submitted a preliminary regulatory filing to the White House Office of Information and Regulatory Affairs. The document, titled 'Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets,' aims to establish oversight for crypto asset trading using the agency's existing legal framework.
The submission occurred two days after the US Senate failed to pass the CLARITY Act on September 15, 2026, in a 49-50 vote. This legislation was intended to expand the agency's authority over digital commodities. Without the new law, the CFTC is proceeding with its current powers, which focus on derivatives and leveraged trading rather than spot markets.
Chairman Michael S. Selig directed staff in August 2026 to explore rules for a crypto asset market. The proposal suggests creating a specific market category that could allow both registered and unregistered exchanges to offer leveraged trading under CFTC oversight. The framework remains flexible, and no formal text has been released to the public.
The proposal must undergo White House review, a public comment period, and further commission votes before becoming binding. The current filing does not address spot markets, leaving a significant jurisdictional gap. Future congressional action could still expand or reshape these rules, as the regulatory effort currently relies on existing, more limited authorities.
