CoinTelegraph
CFTC Chair Michael Selig said the agency will push ahead with crypto rulemaking even after the collapse of the CLARITY Act, the market-structure bill that had been the legislative vehicle for assigning digital-asset jurisdiction between the CFTC and the SEC.
"The CFTC is locked in and ready to ship," Selig said, framing the pipeline as independent of Congress's pace.
Why it matters
CLARITY's failure had been expected to slow the regulatory perimeter around US venues. Selig's comments signal the CFTC will draw that perimeter through executive rulemaking instead, using its existing authority over derivatives and commodity-linked products. That path sidesteps the legislative calendar entirely.
Market impact
For US-licensed derivatives venues and tokenized-collateral pilots, the supervisory floor is rising on the agency's timeline, not Congress's. Rulemaking is faster than a statute but less durable, a fact any venue planning a multi-year US build should price into its regulatory assumptions.
Frequently asked questions
-
Who is Michael Selig?
Michael Selig is the Chair of the US Commodity Futures Trading Commission, the federal regulator that oversees derivatives markets including certain crypto products.
-
What was the CLARITY Act?
The CLARITY Act was a market-structure bill that would have codified which federal agency, the CFTC or the SEC, has jurisdiction over which digital-asset categories.
-
Why did the CLARITY Act fail?
The CLARITY Act stalled in Congress and did not advance, leaving the jurisdictional split between the CFTC and SEC unresolved at the statutory level.
-
What authority does the CFTC have over crypto without new legislation?
The CFTC already oversees derivatives and certain commodity-linked products, giving it direct rulemaking authority over those segments without needing Congress to act.
-
What changes for US crypto venues now?
US-licensed derivatives venues and tokenized-collateral pilots should expect continued rulemaking on the CFTC's timeline, with the supervisory floor rising faster than Congress could move.
WuBlockchain
CoinDesk
CryptoSlate
WatcherGuru
TheBlock