CFTC Signals Swift Crypto Rulemaking if Congress Stalls Clarity Act
The Commodity Futures Trading Commission has begun preparing crypto market rules as lawmakers struggle to advance the Clarity Act. CFTC Chair Michael Selig directed agency staff to develop a framework using existing regulatory powers. The move signals that regulators could act independently if Congress fails to deliver legislation.
CFTC Plans Alternative Path
Selig still favors bipartisan legislation because it could provide clearer and more durable market rules. However, continued delays could push the agency toward unilateral action. Consequently, CFTC officials could move quickly once they determine the framework can withstand legal scrutiny.
The proposed approach could bring crypto exchanges and existing CFTC registrants under broader oversight. Additionally, eligible platforms could offer leveraged and margined digital asset trading under tailored requirements.
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