CFTC submits crypto market rule proposal for White House review as CLARITY Act stalls, signaling new US regulatory changes ahead.
The CFTC submitted a crypto market rule proposal for White House review on September 17, 2026, as Congress delays broader legislation. The filing reveals the U.S. Commodity Futures Trading Commission proposed a rule. The Office of Management and Budget is now reviewing the proposal. The filing is still early, though, and hasn’t yet been finalized.
CFTC Moves Forward With New Crypto Market Rules
The proposal follows the failure of the Senate to pass the CLARITY Act. The bill would have expanded the CFTC’s power over digital asset trading.
🚨NEW: The @CFTC has submitted its crypto rulemaking to the White House for review.
The proposed rule is titled “Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets.”
It comes just two days after @ChairmanSelig said the agency was “locked in and ready to… pic.twitter.com/iJUmWjH07m
— Eleanor Terrett (@EleanorTerrett) September 18, 2026
But the bill failed to qualify for an important procedural hurdle. For this reason, it is likely that the CFTC will seek to make regulatory changes pursuant to its existing powers.
The filing has registration number RIN 3038-AF80. It is now in the early “prerule” phase of the federal regulatory process.
Further, there are 2 significant points that could be regulated in the submission. These are related to crypto asset transactions and crypto asset markets.
The filing does not yet disclose the specifics of the proposed rules. So, the extent of CFTC’s jurisdiction is still uncertain.
CFTC Chair Michael Selig had previously talked about the plans for a new registration category. This category may encompass qualified cryptocurrency exchanges that are regulated by the CFTC.
Moreover, the proposed framework may enable leveraged and margined digital asset trading. This activity would be carried out in accordance with certain conditions set by the CFTC.
The method has the potential to establish a new regulatory avenue for crypto platforms. But the agency has a number of steps to take before these rules become binding.
The proposal also shows how agencies are continuing regulatory work while Congress considers legislation. Meanwhile, lawmakers have yet to provide a more comprehensive federal framework for digital assets.
CFTC and SEC Take Separate Steps on Digital Assets
The proposal may be reviewed by the White House Office of Information and Regulatory Affairs. The review period can last up to 90 days under the federal process.
The proposal would then be sent back to the CFTC for consideration after this review. The Commission would then have to hold a formal vote on the proposed rules.
Once approved, the agency would typically solicit public comments. So there would still be more regulatory work to do before it was implemented.
A complete, binding framework is not anticipated until late 2027. This timeline may be altered as a result of the review and rulemaking process.
Read more: Coinbase CEO Says Clarity Act Moves Closer After Senate Progress – Ledger Tribune
Meanwhile, the CFTC has also taken independent action in relation to crypto infrastructure. On September 18, 2026, the agency issued a no-action letter.
The letter is a welcome relief for some passive software developers and cryptocurrency wallets. It enables qualified services to link users to regulated derivatives markets.
But these entities may obtain the relief without being registered as introducing brokers. The measure may ease the regulatory hurdles for some blockchain-based services.
Meanwhile, the Securities and Exchange Commission has been taking another regulatory route. The SEC has issued a temporary 5-year conditional exemption for eligible financial platforms.
The exemption applies to onchain trading of tokenized stocks. The pathway would be available for eligible platforms without the requirement for securities exchange registration.
Bitcoin Rises as US Crypto Regulation Continues
The moves indicate that the federal regulators are still working on their crypto regulations on their own. But the agencies have different laws and regulatory duties.
The CFTC is responsible for the general supervision of derivatives markets and some commodities activities. The SEC regulates securities markets and securities-related activities, meanwhile.
Thus, the 2 agencies can serve various segments of the digital asset market. Their behaviour might also shape the future operations of the crypto platforms.
The proposal by the CFTC is still in its early stages and its ultimate effect will not be known until it is finalized. Public comments and future Commission decisions could significantly change its provisions.
The proposal is still a significant development in the regulatory landscape for the U.S. cryptocurrency market, however. It also comes at a time of renewed discussion about federal digital asset legislation.
Bitcoin surged to new heights after the recent regulatory updates, reaching a new price of $80,000. The move followed markets reacting to the latest CFTC and SEC announcements.
But this price movement doesn’t prove a direct link between regulation and the Bitcoin’s rise. Several factors can affect crypto prices simultaneously.
In the meantime, the CLARITY Act is still on the regulatory table. Administrative approaches may be changed or replaced in the future by action of Congress.
The CFTC proposal is currently being reviewed by the White House. For this reason, crypto companies should remain vigilant and keep an eye on the situation before making any long-term predictions about the regulations.
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