CFTC Plans Regulatory Framework for Crypto Assets Under Existing Authority

CFTC Chairman Michael S. Selig announced plans to develop a regulatory framework for crypto asset markets using existing authority, independent of the Digital Asset Market CLARITY Act.

At an inaugural meeting of the agency’s Innovation Advisory Committee (IAC), Chairman Selig confirmed that he has directed the CFTC staff to begin exploring rules to codify a CFTC market structure for crypto assets using the agency's existing authorities.

The move comes as lawmakers continue to negotiate ethics provisions in the CLARITY Act, which cleared the House but faces an uncertain path forward in the Senate. Chairman Selig stated that if the legislation stalls, the CFTC will utilize its existing authorities to begin establishing a regime for crypto asset markets.