CFTC Sends Crypto Rulemaking to White House for Review

This is a meaningful shift in how crypto oversight may get made: agency rulemaking rather than legislation, which tends to move faster but is more exposed to legal challenge and reversal by a later administration. It matters most for US derivatives venues and token projects that had been hedging on a congressional framework. The open question is whether the CFTC's proposal survives interagency review intact, and how industry and other regulators respond once it is published.