The Commodity Futures Trading Commission has submitted a proposal covering cryptocurrency trading and markets to the White House for review, accelerating its rulemaking after the U.S. Senate failed to advance the CLARITY Act this week. Documents released Friday by the White House Office of Management and Budget show the proposal was received Thursday. Earlier reporting described the submission as two measures, Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets, filed with OIRA, an office within OMB that reviews certain federal regulatory actions. The stalled legislation would have designated the CFTC as the primary regulator of the digital asset market, prompting the agency to pursue alternative administrative pathways for establishing oversight rules.