CFTC Chair Vows to Regulate Crypto Markets as Prices Soar

Crypto markets are on fire as Bitcoin (BTC) and other major assets surge in price. BTC has risen to $77,400, while Ethereum (ETH) has reached $2,380.

The CFTC Chair Michael Selig has promised to create a framework for crypto regulation if Congress won't pass the Clarity Act. The bill aims to provide clarity on how crypto assets are classified and regulated, but it has stalled in the Senate due to lack of support.

Selig stated that he will direct his staff to move swiftly on creating rules for digital asset markets, including permitting leveraged and margined trading. He also emphasized the importance of working with developers of onchain finance protocols to ensure they can operate legally in the US.