The US Securities and Exchange Commission (SEC) has submitted a proposal to the White House Office of Management and Budget to update broker-dealer regulations for digital assets. The amendments aim to clarify how existing requirements for financial responsibility, recordkeeping, and reporting apply to the crypto sector.
This initiative aligns with the Trump administration's goal to establish the United States as a global hub for cryptocurrency. The SEC is proceeding with its own rulemaking process after legislative efforts regarding crypto market structure stalled in the Senate earlier this year.
In parallel, the Commodity Futures Trading Commission (CFTC) has submitted a separate proposal to the Office of Management and Budget. This initiative focuses on enhancing consumer protections within prediction markets, including new guidelines for product governance and market design.
