The Commodity Futures Trading Commission (CFTC) has submitted a prerule on crypto asset transactions and markets to the White House for review, moving forward with its own rulemaking process after congressional efforts stalled.
The submission signals that the agency will build a derivatives framework for crypto assets using its existing authority, rather than waiting for legislative action. This move follows the collapse of the Clarity Act, a bill that had aimed to establish clearer rules for digital asset markets but failed to advance in Congress.
By initiating rulemaking independently, the CFTC is positioning itself to set regulatory parameters for crypto derivatives markets without relying on Congress to pass new legislation. The prerule is currently under White House review, a standard step in the federal rulemaking process before rules can be proposed publicly.
The development comes as regulatory clarity for digital assets in the United States has remained a contentious and unresolved issue, with legislative proposals repeatedly failing to gain sufficient support to become law.