CFTC Sends Proposal To Regulate Crypto Transactions Following Clarity Act Fail

The U.S. Commodity Futures Trading Commission has sent a proposal on regulating crypto transactions to the White House, according to Bitcoin Magazine. The submission follows the failed vote on the Clarity Act this week. The report, written by Mathew Di Salvo, does not provide further details on the proposal’s contents, scope or possible implementation timeline. The development places the CFTC’s regulatory initiative in focus as the market awaits additional information about the agency’s approach to crypto transactions. No details were provided on how the proposal could affect Bitcoin or other digital assets. The White House’s next steps were also not specified in the supplied report.