CFTC Advances Crypto Regulation Without Waiting for Congressional Legislation

The U.S. Commodity Futures Trading Commission (CFTC) has advanced its proposal for cryptocurrency market regulations without waiting for congressional legislation, according to reports. Block, citing sources on Friday, reported that the CFTC submitted a draft regulation for crypto markets to the White House for review.

CFTC Chairman Michael S. Selig instructed staff last month to explore developing rules using existing authority after he noted that Congress has delayed passing a cryptocurrency market structure bill. Selig stated the commission could move forward with its own regulations if legislative progress continues to stall.