CFTC Prepares Crypto Rules as Clarity Act Faces Congressional Uncertainty

Michael Selig, Chairman of the Commodity Futures Trading Commission (CFTC), has directed his technical team to initiate the development of a comprehensive regulatory framework for the U.S. crypto market structure, aiming to step in proactively should Congress fail to pass the Clarity Act.

The regulatory body seeks to establish clear rules for digital asset exchanges, leveraged trading, and DeFi protocol developers, utilizing the regulator’s existing executive authorities. Although Selig emphasized that a bipartisan bill passed by Congress remains the optimal path to safeguard the industry in the long term, the agency will not wait indefinitely in the face of legislative gridlock.

The CFTC is allowing Congress a window of time, but is preparing to formally publish its own regulatory proposal if political roadblocks persist.

Source: https://www.youtube.com/live/9rTCARzj98I

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