CFTC Chair Michael Selig directs staff to draft crypto regulations if the Digital Asset Market Clarity Act fails to pass.
CFTC Chair Michael Selig announced plans to advance crypto regulations if Congress does not pass the Digital Asset Market Clarity Act. Selig directed staff to explore developer protections and policies allowing leveraged crypto asset trading for registered and non-registered entities.
The CLARITY Act, a bipartisan bill, remains stalled until the Senate reconvenes in September. Selig emphasized the CFTC’s readiness to act independently, citing the need for regulatory clarity in the absence of legislative progress.
Selig’s remarks signal a potential shift toward agency-led rulemaking, though he noted the CFTC would allow time for Congress to vote on the bill.