U.S. SEC and CFTC Submit Cryptocurrency and Prediction Market Regulatory Proposals to the White House

On March 5, Bloomberg reported that the SEC and CFTC have each submitted regulatory measures concerning cryptocurrencies and prediction markets to the Office of Information and Regulatory Affairs (OIRA) at the White House. These submissions mark a significant advancement in regulatory procedures under the Trump administration, reaching a stage in the bureaucratic process that is notably forward-moving. On March 4, the SEC issued commission-level guidance on the application of federal securities laws to certain cryptocurrency assets and related transactions...