The US Commodity Futures Trading Commission (CFTC) has today submitted a two-part crypto regulation proposal to the White House Office of Information and Regulatory Affairs (OIRA).
Filed under the identifier RIN 3038-AF80, the pitch is split into two sections, namely:
- Regulation Crypto Asset Transactions
- Regulation Crypto Asset Markets
At the moment, the proposal’s specific details remain confidential as it undergoes initial White House review.
The outline, however, suggests the likely introduction of a new category of exchange known as “crypto asset markets.” This would permit both existing and upcoming crypto exchanges to spot trade digital commodities such as Bitcoin (BTC) and XRP under CFTC oversight.
OIRA has up to 99 days to complete a review, after which the proposal will go back to the Commission for a vote. After that, it will enter the Federal Register, then undergo two distinct 60-day public commentary periods.
While the development is positive, a final binding rule is unlikely to take effect until late 2027.
No act, but regulation continues
Notably, this is one among a string of actions displaying commitment by the CFTC and US Securities and Exchange Commission (SEC) to guide the crypto ecosystem following the recent Clarity Act rejection.
Just yesterday, the CFTC announced its exception for crypto and prediction markets software providers from broker classification under certain conditions. Meanwhile, the SEC introduced a five-year “Innovation Exemption” rule, permitting on-chain trading of specific tokenized stocks.
Bitcoin defies bearish developments
In addition to the Clarity Act downturn, the market is facing other potentially bearish developments such as the Fed interest rate hike, Japan’s possible dovish rates approach, the US Dollar Index (DXY) rising above the 100 psychological level, and oil prices surging past the $100 mark.
Bitcoin, however, has shrugged off the expected textbook downturn, revisiting the $80,000 mark. Moving in tandem is the overall crypto market cap, having risen 5.11% in the day to $2.76 trillion.
Was this writing helpful?
Story Ends Here
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Read the Next News
