The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have submitted proposed rules to the White House to oversee the crypto industry and futures markets, furthering their efforts to bring transparency and regulation to emerging markets.
The SEC is pushing ahead with crypto taxonomy plans
This week, Wall Street’s main financial regulators, the SEC and the CFTC, stepped up their efforts to secure formal rules and fully establish a welcoming approach by submitting their draft rules for crypto assets and futures markets to the White House for consideration, Bloomberg reported on Wednesday.
Independent agencies such as the SEC and CFTC have not previously been required to submit new rules to the White House for review, the news outlet said. However, in 2025, the Trump administration announced that it expects all executive agencies, including US financial regulators, to comply with this requirement.
The website of the White House Office of Information and Regulation (OIRA) shows that the agency received a crypto regulatory action from the SEC on Tuesday regarding “the application of federal securities laws to certain types of crypto assets and certain transactions involving crypto assets.”
Bloomberg reported that the commission’s level guidance could be related to the taxonomy of crypto assets. A spokeswoman for the agency referred to earlier comments by SEC Chairman Paul Atkins.
Last month, Atkins proposed formal guidelines for the classification of tokens under the Crypto Market Structure Bill, stressing that regulatory clarity for digital assets is long overdue.
The agency was tasked with reviewing the character taxonomy to more accurately define digital assets and clarify applicable rules. This could establish categories for crypto assets, determine SEC or CFTC oversight, and affect how companies register, disclose information, and operate.
The SEC chairman advocated for Congress to pass legislation for “future-proof” measures, but also acknowledged that the agency has considerable authority to continue to impose regulations if the market structure law does not move forward.
CFTC-SEC to promote regulatory innovation
It is worth noting that the CFTC is also working with the SEC to “coordinate, coordinate and have a unified approach to federal supervision of crypto asset markets” through the joint initiative “Crypto Project”.
The sister agencies recently outlined their plan to clarify jurisdictional boundaries, eliminate redundant compliance requirements and reduce regulatory fragmentation through their collaboration.
CFTC Chairman Michael Selig explained that the agencies aim to “innovate on American soil, under American law, and in the service of American investors, customers and businesses.”
As part of those efforts, the CFTC on Monday issued an advance notice of proposed rulemaking (ANPR) on the prediction markets, according to OIRA’s website. The measure, now under consideration by the White House, could set stricter standards for the emerging market, which has grown in popularity over the past year, but has also faced intense scrutiny in several US states.
On Tuesday, the head of the CFTC promised to set “very clear standards for what can and cannot be self-regulated in our markets and how to evaluate the various products offered in the space.”
Speaking at the Milken Institute’s Future of Finance conference, Selig noted that, as seen in the crypto industry, the more regulators try to shut down these markets, the more they move offshore.
“So my view on this is that we need to have the right rules and regulations for it here in the United States, or else we’re just going to have black markets offshore,” the regulator said.
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