Crypto Market Update: CFTC Files Federal Rules After CLARITY Act Failure

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• Ethereum (ETH) was priced at US$2,511.51, trading 4 percent higher over the last 24 hours.

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Today's crypto news to know

Read on for a round-up of the biggest crypto market news:

• CFTC files federal crypto rule making following CLARITY Act failure
• SEC rolls out five year exemption for tokenized stock trading
• US Treasury sanctions BitBank over Hormuz transit tolls

CFTC files federal crypto rule making following CLARITY Act failure

The Commodity Futures Trading Commission sent a major crypto rulemaking package to the White House for regulatory review on Thursday, filing "Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets" with the Office of Information and Regulatory Affairs following the Senate's failure to advance the Clarity Act.

Federal regulators are advancing their own rules after key Democratic negotiators blocked the legislative framework over ethics concerns regarding President Donald Trump's digital asset wealth.

CFTC Chair Michael Selig previously pledged to "utilize its existing authorities to begin establishing a regime for crypto asset markets" if Congress failed to act.

The proposed rules could enable crypto exchanges to earn designation as designated contract markets called "crypto asset markets" and offer leveraged or margined trading under direct CFTC oversight.

The CFTC also issued a no-action position for software developers, granting relief from registering as introducing brokers under specific operating conditions.

SEC rolls out five year exemption for tokenized stock trading

The Securities and Exchange Commission (SEC) unveiled a five-year "Innovation Exemption" to allow platforms to offer trading in blockchain-based tokenized stocks and securities.

The framework grants trading platforms temporary relief from traditional exchange rules that govern national venues like Nasdaq and the New York Stock Exchange.

The SEC also provided liquidity providers in tokenized equities a five-year exemption from dealer registration requirements. Trading platforms must notify public companies before listing tokenized versions of their shares and must refrain from listing if an issuer objects. The regulation strictly prohibits synthetic tokens that offer exposure to stocks through derivatives or secondary financial products.

Under the SEC rules, tokenized stocks must grant investors the exact same rights and privileges as traditional equities, including voting rights and dividend distributions.

US Treasury sanctions BitBank over Hormuz transit tolls

The US Department of the Treasury sanctioned Iranian cryptocurrency exchange BitBank for processing Bitcoin payments collected from commercial shipping vessels in the Strait of Hormuz.

The Hormuz Safe Marine Services Authority forced maritime companies to pay Bitcoin tolls for safe passage through the strait before transferring hundreds of millions of dollars in digital assets to the Islamic Revolutionary Guard Corps through BitBank.

Iranian financier Babak Zanjani controls BitBank and actively promoted the exchange on his social media accounts to assist regime-linked financial schemes.

The Treasury also sanctioned software developer Pishtaz Simorgh Electronic Trade Company alongside three executives from its parent firm, Dot One Value Creation Group. Federal officials identified Dot One executive Hossein Ali Zaker Hossein as a key broker in sanctions evasion who funneled digital asset transactions directly to the IRGC.

The sanctions fall under Operation Economic Outcast, a joint enforcement campaign with international partners designed to sever Iran's access to global financial and digital asset markets. The action freezes all US assets belonging to the designated entities and exposes foreign financial institutions dealing with them to secondary sanctions.