CFTC joins SEC in proposing crypto framework after failed CLARITY vote - TradingView

The U.S. Commodity Futures Trading Commission has joined the Securities and Exchange Commission in proposing a regulatory framework for crypto assets, following the failure of the CLARITY Act to advance. The move signals that federal agencies are pursuing administrative rulemaking as an alternative path to the legislative clarity that stalled in Congress.

For markets, the development matters because jurisdiction has long been a central question for crypto firms. The SEC has generally treated many digital assets as securities, while the CFTC has asserted authority over those deemed commodities. A joint framework could reduce the uncertainty that has shaped compliance decisions, listing practices, and product offerings in the U.S.

What to watch now is the substance of the proposals: which assets fall under which agency, how token classifications are determined, and whether the approach survives public comment and potential legal challenge. Until those details are settled, the framework remains a proposal rather than a final rule, and its practical effect on market structure is still to be determined.