The Daily: The CFTC sends its crypto rulemaking to the White House, and more - The Block

The Commodity Futures Trading Commission has advanced its cryptocurrency rulemaking by sending the proposal to the White House for review, according to The Block. This step places the draft under interagency examination before it can be formally proposed and opened to public comment.

For markets, the move signals that federal oversight of digital assets is shifting from enforcement-led actions toward formal rulemaking. The CFTC's jurisdiction has generally covered crypto derivatives and spot markets in commodities such as bitcoin, while securities questions remain with the SEC. A written rule could clarify registration, trading, and compliance expectations for venues and intermediaries operating in that space.

What to watch: the content of the proposal once released, the length of the review period, and how the eventual rule interacts with existing SEC frameworks. Timelines remain uncertain, so market participants should treat this as a procedural milestone rather than a final decision.