Commodity Futures Trading Commission (CFTC) Chairman Michael Selig said that the agency is prepared to develop rules for the crypto market under existing law even if the CLARITY Act is never passed. The regulator is waiting for Congress to make a decision while considering several options for regulating the digital asset market.
CFTC Is Ready to Use Its Existing Authority
Selig said the crypto industry’s market structure should be regulated regardless of whether Congress passes the bill.
According to Selig, the CFTC has significant authority under existing law. If the CLARITY Act does not pass, the commission will use that authority to develop its own rules.
The regulator has not yet disclosed which rules it is considering.
“The CFTC is evaluating several options and awaiting further movement on the bill in Congress,” Selig said.
Context
The CLARITY Act stalled in the Senate over a dispute concerning ethics provisions, including those related to President Donald Trump’s involvement in the crypto business. In 2025, Trump reported $1.4 B in income from cryptocurrency and memecoin projects.
In mid-September, the Senate is expected to hold a procedural vote on the bill. Significant disagreements remain in the legislation, which could make it harder to pass before lawmakers turn their attention to the midterm elections in November.
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