CFTC files new rulemaking to regulate crypto transactions and markets

CFTC: The U.S. Commodity Futures Trading Commission is the federal agency responsible for overseeing derivatives markets, including futures, options, and swaps. It is filing proposed rules titled Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets with the White House Office of Information and Regulatory Affairs to establish a regulatory framework for crypto transactions and markets using its existing authorities. This action follows the Senate's procedural rejection of the broader CLARITY Act and aligns with recent statements from CFTC leadership on providing market structure for digital assets. Legislation: The Senate recently blocked the CLARITY Act in a procedural vote, leading federal regulators including the CFTC to advance crypto oversight independently. Related Relief: The CFTC has issued no-action guidance providing relief to qualifying providers of passive crypto trading software from certain broker registration requirements. Agency Approach: CFTC leadership has directed staff to codify market structure rules for crypto assets under existing authorities after legislative efforts stalled.