CFTC submits new proposal on crypto asset trading and market regulation for White House review

According to Bloomberg, the U.S. Commodity Futures Trading Commission (CFTC) is following through on its previous commitment to rapidly advance crypto regulatory rules. Earlier, a landmark digital asset bill failed to advance in the U.S. Senate this week. As the futures and swaps regulator originally designated as the primary regulatory body for the crypto market under the CLARITY Act, the CFTC has submitted a new proposal aimed at regulating crypto asset trading and markets for White House review. Information released by the U.S. Office of Management and Budget (OMB) on Friday shows that the proposal was accepted on Thursday.