The US Commodity Futures Trading Commission (CFTC) has 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 proposal is divided into two distinct sections: Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets. Specific details of the proposal remain confidential while it undergoes initial White House review.
The outline indicates the potential introduction of a new exchange category called “crypto asset markets.” This classification would allow existing and upcoming cryptocurrency exchanges to facilitate spot trading of digital commodities, such as Bitcoin (BTC) and XRP, under CFTC oversight.
Review Process and Timeline
OIRA has up to 99 days to complete its review, after which the proposal will return to the Commission for a vote. Following the vote, the rule will enter the Federal Register and undergo two separate 60-day public commentary periods. A final binding rule is not expected to take effect until late 2027.
This filing follows recent actions by both the CFTC and the US Securities and Exchange Commission (SEC) aimed at guiding the cryptocurrency ecosystem. The CFTC recently announced a broker classification exception for certain crypto and prediction markets software providers under specific conditions, while the SEC introduced a five-year “Innovation Exemption” rule to allow on-chain trading of certain tokenized stocks.
Broader Market Performance
Despite recent regulatory and macroeconomic headwinds—including the rejection of the Clarity Act, a Federal Reserve interest rate hike, Japan's potential dovish rates approach, a rising US Dollar Index (DXY) above 100, and oil prices surpassing $100—Bitcoin has moved past expected downturns to revisit the $80,000 mark. The broader cryptocurrency market capitalization also rose by 5.11% over a 24-hour period to reach $2.76 trillion.
