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CFTC Prepares Contingency Plan for Crypto Regulation If Clarity Act Fails

Guavy AI Editorial Team
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Michael Selig, chair of the Commodity Futures Trading Commission (CFTC), outlined an alternative plan for developing a US crypto market structure in case Congress fails to pass the Digital Asset Market Clarity Act (Clarity Act).

The comments came after a White House innovation meeting on August 19, where Selig mentioned that Congress was advancing the Clarity Act towards the finish line and that the CFTC stood ready to implement it if it became law.

Selig stated that the regulator would use 'every tool available' to advance the administration's innovation agenda in the meantime, adding that he would provide more detail on its regulatory roadmap the following day.

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