CFTC Submits Crypto Market Regulation Proposal to White House

Following the US Senate's failure to advance the CLARITY Act (US digital-asset market-structure bill) this week, the Commodity Futures Trading Commission (CFTC) has accelerated its regulatory efforts. The agency submitted a new proposal for regulating cryptocurrency trading and markets to the White House for review. Documents from the Office of Management and Budget (OMB) confirm the proposal was received on Thursday.