US CFTC Submits Cryptocurrency Market Regulation Proposal to White House

The U.S. Commodity Futures Trading Commission (CFTC) has submitted a new regulatory proposal for cryptocurrency trading and market oversight to the White House, according to Bloomberg. The proposal was received on July 17th by the Office of Management and Budget's Office of Information and Regulatory Affairs (OIRA), where it is currently under review.

Hyperliquid (HYPE) Policy Center (HPC) CEO Jake Chervinsky commented via X that 'The CFTC is moving with speed. They've passed what appears to be a rulemaking proposal to interagency review.'