CFTC Chair Says Crypto Market Rules Likely Even Without Clarity Act

The Commodity Futures Trading Commission (CFTC) is preparing to establish a crypto market structure framework, with CFTC Chairman Michael Selig saying the industry will get clearer rules even if Congress does not pass the proposed Clarity Act. Selig describes the timing as uncertain, but says regulators are ready to proceed using existing authorities if legislative action stalls.

Selig is optimistic that the bill will pass, but he also signals that the CFTC can move forward without it. Bloomberg reports Selig’s view that market structure rules can be implemented through the agency’s regulatory mandate, and that the agency is prepared to act if the bill does not advance. PYMNTS similarly says the CFTC plans to use its current powers to build a crypto asset market regime should Congress fail to deliver the Clarity Act, framing the effort as an effort to provide an operating structure despite legislative delays.