The Commodity Futures Trading Commission submitted a proposed crypto market rule to the White House for review on Sept. 17, two days after the Senate blocked the CLARITY Act from advancing. The bill received 49 votes in favor and 50 against, short of the 60 needed to clear the procedural hurdle.

The proposal, titled “Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets,” went to the White House’s Office of Information and Regulatory Affairs. The Office of Management and Budget posted the submission on its website Sept. 18. The proposal’s contents have not yet been disclosed.

The filing follows CFTC Chair Michael Selig’s pledge to pursue crypto regulation under existing law after the Senate setback. “We will help him get the job done using our existing statutory authorities,” Selig said of President Donald Trump’s promise to deliver a crypto regulatory framework. SEC Chair Paul Atkins has also pledged to act within his agency’s authority “with or without legislation.”