The Commodities and Futures Trading Commission (CFTC) is trying to move forward with its own set of rules for crypto markets after the Senate failed to pass the Clarity Act prior this week.
The CFTC succumbed a new proposal to the White House Office of Management and Budget (OMB) on Thursday.
Details were not disclosed. It is unclear which crypto assets it covers, what exchanges would need to do to qualify, what restrictions would apply or how far the CFTC believes its authority extends.
Source: reginfo.gov
Once the OMB reviews the draft, it will return to the CFTC for a vote and public comment. It would then need another vote to become effective.
The submission comes after the Securities and Exchange Commission (SEC) on Thursday issued an “innovation exemption” that gives qualifying platforms a five-year path to offer onchain trading of certain tokenized stocks without registering as securities exchanges.
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— Mike Selig (@ChairmanSelig) September 16, 2026
Both the CFTC and SEC have vowed to continue working together to provide the crypto industry with clearer rules under their existing authority after the Clarity Act failed to pass.
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