CFTC Accelerates Crypto Regulation with Existing Powers
The US Commodity Futures Trading Commission (CFTC) is accelerating its efforts to build a regulatory framework for digital assets. CFTC Chair Michael Selig stated that regulators are crafting rules needed for the crypto market by relying on legal powers they already have under existing law.
Selig emphasized that President Donald Trump had promised since taking office to establish a market structure for digital assets and provide clear regulatory standards, which officials are now putting into concrete form. He noted that regulatory frameworks can be built not only through laws passed by Congress but also through rules written by supervisory agencies themselves.
The CFTC will continue developing regulations for the crypto market as it responds to a new financial environment, according to Selig.