CFTC sends crypto rules to White House to review as Congress stalls on Clarity Act

“The CFTC is locked in and ready to ship its rules for the new frontier of finance,” CFTC chair Mike Selig wrote in a post on X following the vote on Wednesday. 

The CFTC, on Friday, also published a no-action letter, giving certain software providers a way to connect users to regulated derivatives markets without registering as introducing brokers. It covers passive software that lets users view markets and submit orders directly to registered firms, including through crypto wallets.

Providers can market specific contracts and receive transaction-based fees, but they cannot hold customer assets, generate buy or sell signals or control how orders are routed or executed, according to the letter.

The relief comes with conditions, including risk disclosures, recordkeeping and compliance with marketing rules. It remains in place until the CFTC adopts rules or guidance addressing registration requirements for software developers.