The Commodity Futures Trading Commission has moved forward with a major crypto market rulemaking by submitting “Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets” to the Office of Information and Regulatory Affairs for review. The filing was received on September 17, 2026, and remains pending review.
The submission comes after the CLARITY Act failed to advance in the Senate through a procedural vote. Rather than waiting for comprehensive legislation, the CFTC is proceeding through its existing regulatory authorities. CFTC Chair Michael Selig had previously said the agency would explore establishing a crypto asset market regime if the legislation stalled.
The proposed rulemaking could become an important part of how crypto trading markets are regulated at the federal level. Selig previously outlined a framework under which current registrants and non-registrant crypto exchanges could potentially be designated as a type of designated contract market for crypto assets, with leveraged or margined trading subject to rules tailored to digital-asset markets.
The CFTC has not disclosed the substantive details of the new proposal and declined to comment on the filing. That leaves the scope and specific requirements of the rulemaking uncertain while it moves through the federal review process.
The development also comes alongside separate regulatory action involving digital assets. The SEC has been pursuing its own crypto-related rulemaking, while the CFTC has issued a no-action position concerning certain software developers. Together, the moves indicate that federal agencies are continuing to shape the U.S. crypto regulatory framework through agency authority while broader legislation remains unresolved.
