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It could, therefore, take quite a bit longer than the timing of the initial filing indicates. The CFTC would have to publish its action and solicit public comment after White House review before writing a formal proposed rule. Any final rule would have to undergo another review and comment period before it could take effect. 

The distinction matters for crypto businesses. The filing shows regulatory work is moving forward, but exchanges and other market participants cannot yet consider it a set of rules they must adhere to. 

The CFTC’s move also comes as other US regulators continue to craft their own crypto policies. The agency and the Securities and Exchange Commission (SEC) jointly issued an interpretation in March on how certain crypto assets would be treated under federal securities laws. 

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While Alabama ranks 27th among the 50 states in population, the limited availability of gaming makes the state attractive to companies like VGW.

Alabama has only parimutuel betting, small games of chance for charitable purposes, and electronic bingo machines at three tribal casinos in Atmore, Montgomery, and Wetumpka.

According to its annual report, VGW generated revenue of $4.76 billion in its 2025 fiscal year, resulting in a net profit of $428 million. Despite operating in fewer states, VGW’s platforms grew profits and revenue from its 2024 fiscal year.

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The mayor said he was not aware of the contributions before the publication actually got in touch with him.

“Given the pending Indiana case, I have asked my Treasurer to return the donations,” Grasso said in an email to Patch. His campaign reported the contributions to the Illinois State Board of Elections on September 14.

Rovito was among 22 people indicted in April in a federal case involving an alleged illegal gambling operation in northwest Indiana.