CFTC Chair Selig orders staff to draft crypto market structure rules if the Clarity Act fails to advance in Congress.
CFTC Chair Michael S. Selig has instructed staff to develop crypto market structure rules using existing authority, preparing for potential congressional inaction on the Clarity Act. The proposed framework could regulate crypto exchanges, leveraged trading, and on-chain finance protocols, according to agency remarks.
The Clarity Act aims to establish a federal framework for digital assets and define the CFTC and SEC’s oversight roles. Selig emphasized that legislation would provide more durable regulatory clarity than agency action alone, warning that rules without congressional backing could be reversed by future administrations.
Selig’s comments came during the CFTC’s Innovation Advisory Committee meeting, where he reiterated his preference for bipartisan legislation but signaled readiness to act unilaterally if the bill stalls.