White House reviews SEC proposal to revise crypto asset broker-dealer rules; CFTC simultaneously submits prediction market regulatory proposal.

BlockBeats news, November 6, according to Bloomberg, the White House Office of Management and Budget (OMB) is reviewing a proposed rule amendment submitted by the U.S. Securities and Exchange Commission (SEC) regarding crypto asset-related broker-dealers, aiming to adjust the financial responsibility, recordkeeping, and reporting requirements for broker-dealers to clarify how the relevant regulations apply in the crypto asset sector. Although U.S. crypto market structure legislation previously failed to advance in the Senate, the SEC is still pushing forward with digital asset regulatory rulemaking.

In addition, the U.S. Commodity Futures Trading Commission (CFTC) also submitted a proposed rule amendment on prediction markets to the OMB this week, aimed at strengthening protections for retail traders and clarifying regulatory requirements in areas such as product governance, market design, and incentive programs.