Key facts
- The CFTC has sent proposed crypto rules to the White House.
- The proposed rules cover crypto transactions and market frameworks.
- The CFTC issued a no-action position for crypto developers trading derivatives.
- The SEC issued a 5-year innovation exemption for tokenized stock trading.
The Commodity Futures Trading Commission (CFTC) is moving forward with its crypto regulatory agenda by sending proposed rules to the White House, despite the legislative CLARITY Act facing delays. The proposed rules, titled “Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets“, aim to establish a market framework for digital assets within the CFTC's jurisdiction.
This development comes after the recent failure of the CLARITY Act vote in Congress. CFTC Chair Mike Selig had previously indicated that the agency would continue with its crypto initiatives regardless of the bill's progress.
In parallel, the CFTC issued a no-action position for crypto developers involved in derivative product trading. This means the agency will not recommend enforcement actions against such developers if they meet certain conditions and do not register as introducing brokers.