CFTC Files Crypto Market Rulemaking With White House at Prerule Stage

The Office of Information and Regulatory Affairs received RIN 3038-AF80, "Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets," from the CFTC on Sept. 17, two days after the Senate blocked the CLARITY Act. OIRA lists the filing at the prerule stage, not as a proposed rule. Executive Order 12866 gives OIRA 10 working days to review preliminary actions, against 90 days for proposed and final rules. It is the only CFTC action pending White House review, and Michael Selig is the agency's only sitting commissioner.

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