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BTC 
ETH CFTC submits draft crypto market rules to White House for review
The U.S. Commodity Futures Trading Commission (CFTC) has submitted draft crypto market rules to the White House for review. This procedural step marks a step closer to the potential implementation stage of the agency's regulatory framework for digital assets, but does not yet constitute a final policy binding on market participants.
The CFTC reportedly submitted these draft rules to the White House as part of the federal rulemaking process. However, specific terms, submission dates and the full scope of the draft were not disclosed in the available information. As more details emerge, the CFTC's newsroom, as the authoritative public record of official announcements, will be a channel for accurate information.
This development follows the CFTC's continued work to establish formal regulatory boundaries for the crypto asset market. The effort runs in parallel with the agency's broader crypto asset rulemaking submission to the White House. Bitcoin, as the largest and most liquid digital asset by market capitalization, is at the heart of the CFTC's jurisdiction claims because of the agency's long-standing position that Bitcoin is a commodity, not a securities.
Why the White House review is a key step that distinguishes it from the final rule
将草案规则提交给白宫审查，通常通过行政管理和预算局（OIRA）的信息与监管办公室进行处理，这是联邦规则制定过程中的标准程序检查点。这并不意味着规则已获批准、定稿或生效。白宫可能会退回草案要求修改、批准其发布，或在规则制定继续之前要求提供额外的分析。
在规则发表于《联邦公报》且公众评论期结束之前，交易所、经纪商或交易员不会承担任何新的义务。OIRA监管审查数据库跟踪待处理的规则制定提交情况，可以确认文件何时进入或退出白宫审查阶段。此前，在综合规则悬而未决时，CFTC曾为某些市场参与者提供临时便利措施，例如在该机构扩大立法停滞期间延长加密货币软件经纪人豁免权的情况。
关注CFTC加密规则的后续进展
接下来的具体里程碑包括白宫对提交的行动，以及CFTC随后发布的拟议规则制定通知。一份正式的提案将开启公众评论期，使交易所、托管人和其他受影响方有机会在规则最终确定之前做出回应。
Bitcoin miners and infrastructure operators are particularly concerned about how the CFTC ultimately defines the boundaries between the treatment of digital assets in commodities and securities, as this classification determines which federal agency has primary oversight. The CFTC's recent approval of institutional trading of Bitcoin and Ethereum perpetual contracts on the Singapore Exchange (SGX) shows that the agency is actively expanding its influence in the crypto market even before comprehensive rules are in place.
As of the release of this report, there is no effective effective date, rule text or enforcement timetable. Readers should pay close attention to the CFTC's official press releases and the OIRA review database for the next confirmed development in this rule-making process.
