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CFTC files crypto asset rulemaking with White House, pressing ahead without Congress
The filing starts White House review of a framework that could set registration, custody and trading rules for crypto markets under existing authority.
On Thursday, September 17, 2026, the Commodity Futures Trading Commission submitted a new crypto rulemaking proposal titled "Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets" to the White House Office of Information and Regulatory Affairs.
The CLARITY Act failed in the Senate during a procedural vote on Tuesday, falling short of the 60 votes required to begin debate as Democratic negotiators cited ethics concerns regarding digital asset interests.
CFTC Chairman Michael Selig stated the agency was "locked in and ready to ship" rules using existing authority, while the agency issued a "no-action position" on Thursday exempting passive software providers from registering as introducing brokers under ten conditions.
Executive Order 12866 provides the White House up to 90 days to review the proposal before it returns to the Commission for a vote, with the earliest binding rule potentially taking effect in late 2027.
Both the CFTC and the Securities and Exchange Commission have vowed to pursue rules under existing authority while negotiations over the CLARITY Act potentially continue, with seven Senate Democrats indicating discussions may persist.