The Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) have submitted rule proposals to the White House to oversee the crypto industry and prediction markets, advancing their efforts to provide clarity and regulate emerging markets.
SEC Advances Crypto Taxonomy PlansIndependent agencies such as the SEC and the CFTC weren’t previously mandated to submit new rules to the White House for review, the news media outlet noted. However, in 2025, the Trump administration announced that all executive branch agencies, including US financial regulators, were expected to comply with this requirement.
Bloomberg reported that the commission-level guidance could be related to the taxonomy of crypto assets. An agency spokesperson pointed to previous comments from the SEC’s Chairman Paul Atkins.
The agency was set to examine a token taxonomy to define digital assets more accurately and clarify the rules that apply. This could establish categories for crypto assets, determining SEC or CFTC oversight and influencing how firms register, disclose information, and operate.
CFTC-SEC Push To Foster Regulated InnovationNotably, the CFTC has also been collaborating with the SEC to bring “coordination, coherence, and a unified approach to the federal oversight of crypto asset markets” through their joint “Project Crypto” initiative.
CFTC Chairman Michael Selig explained that the agencies aim to ensure that “innovation takes root on American soil, under American law, and in service of American investors, customers, and businesses.”
Speaking at the Milken Institute’s Future of Finance conference, Selig noted that, as seen with the crypto industry, the more regulators try to block these markets, the more they move offshore.
“So my view on this stuff is that we’ve got to set the right rules and regulations for it here in the United States, or otherwise, we’re just going to have black markets offshore,” the regulator affirmed.
