CFTC 'It's Go Time' for Crypto Rules as Perps Take Center Stage
CFTC Chair Mike Selig announced that the agency is moving forward with writing crypto market structure rules, despite the Senate blocking the Clarity Act. He stated 'it's go time' and emphasized that the CFTC has existing statutory authority to act without Congressional approval.
The past week has been a busy stretch for US crypto policy, with several developments occurring without the need for new legislation. The SEC approved an Innovation Exemption allowing tokenized US stocks to trade on public blockchains, and the CFTC issued a no-action letter regarding wallet apps routing users to regulated derivatives.
The CFTC's focus is on perps (perpetual contracts), which will allow exchanges to offer leveraged crypto trading under its oversight. This move has significant implications for perps leaders Hyperliquid and Lighter, with their integration into the US market now seeming imminent.