CFTC chair says agency will move forward on crypto regulation if CLARITY fails
CFTC Chair Michael Selig said the agency will move ahead on crypto regulation even if Congress stalls the Digital Asset Market Clarity (CLARITY) Act. He said staff has already been directed to explore rules allowing registered and unregistered firms to offer leveraged or margined crypto trading and to consider developer protections. If Democrats do not support a bipartisan bill, he said he will push the CFTC to propose new industry rules directly. The market structure bill is paused until the Senate returns in September, when it may face a cloture vote requiring 60 votes. Democrats want stronger ethics safeguards over Trump family crypto interests, while Trump has urged passage of a “fair version” of the bill. Selig’s comments align with new SEC crypto rule proposals. He remains the only Senate-confirmed CFTC commissioner, and the agency is also pursuing its stance that it has exclusive jurisdiction over prediction markets.
