CFTC Sends Crypto Regulation to White House After Bill Fails

The Commodity Futures Trading Commission has submitted a proposed rule for crypto asset markets to the White House for review, moving forward with regulation after Congress failed to pass comprehensive legislation. The filing, titled "Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets," was sent to the Office of Information and Regulatory Affairs on September 17, 2026, just two days after the Senate rejected the CLARITY Act. The CLARITY Act, which would have established federal rules for digital assets and split oversight between the CFTC and the Securities and Exchange Commission, failed to advance in a 49-50 procedural vote on September 15, 2026. In response, CFTC Chair Michael Selig indicated the agency was prepared to act using its existing authority. "The CFTC is locked in and ready to ship its rules for the new frontier of finance," Selig stated following the Senate vote. The submission to OIRA marks an early stage in the rulemaking process. As a pr-rule, the text is not yet public, and specific provisions remain undisclosed. The filing invokes Dodd-Frank authority and is not flagged as having major economic significance, which may expedite review.