Trump administration proposes new crypto rules

The Commodity Futures Trading Commission (CFTC) unveiled new proposals Monday for regulating cryptocurrency markets , after an effort to pass digital asset legislation through Congress came up short last month.

The Commodity Futures Trading Commission (CFTC) unveiled new proposals Monday for regulating cryptocurrency markets, after an effort to pass digital asset legislation through Congress came up short last month.

The agency, one of two main financial regulators expected to oversee the industry, gave notice of its plans to move forward with rulemaking on both crypto asset transactions and markets .

The new rules would lay out how existing commodities law applies to transactions involving digital assets, in addition to establishing a new type of exchange that can register with the CFTC solely for the trading of such assets.

The new exchanges, called crypto asset markets , would specifically handle retail crypto transactions that are traded on a margined, leveraged or financed basis.

CFTC Chair Michael Selig underscored Monday in prepared remarks at Fordham Law School that this creates a “federal option for crypto asset exchanges” but does not require all to register with the agency.

“Just like the banking regulatory system, where firms may choose to pursue either a federal or state charter, with each type of charter authorizing the firm to engage in differing types of permissible activities, crypto firms should be free to pursue state licenses or federal registrations based upon the products and services the firm intends to offer,” he said.

The Hill’s Julia Shapero has more here .

Welcome to The Hill’s Business & Economy newsletter , I’m Max Rego — covering the intersection of Wall Street and Pennsylvania Avenue.

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Key business and economic news with implications this week and beyond:

The Trump administration announced new amendments Monday to the hospital price transparency rules enacted during President Trump’s first term, aimed at making pricing data more accessible and understandable for patients.

Several Supreme Court Justices appeared skeptical Monday of a request from oil companies to preemptively block a climate change lawsuit that could hold them liable for climate damages.

The value of the euro slid on Monday to a 17-month low amid mounting government debt across Europe.

A major cryptocurrency super PAC is backing candidates in 32 House races with one month to go until the midterm elections.

Business and economic news we’ve flagged from other outlets:

‘We don’t want to turn into a banana republic’: Dems preview rift on Trump corporate crackdown ( Politico )

Warren and Hawley to probe insurers over zero-payout claims (Wall Street Journal )