CFTC Prepares Crypto Rules Amid Clarity Act Uncertainty

The Commodity Futures Trading Commission (CFTC) is preparing new rules for the crypto industry, amidst growing uncertainty over the passage of the Clarity Act in Congress.

The Clarity Act aims to provide clarity on how digital assets are regulated, but its prospects have been complicated by stablecoin issues and ethics concerns. Senator Chuck Gallego has warned that rushing the bill could delay it further.

Meanwhile, the CFTC has issued consent orders against former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang, imposing a five-year trading ban on both.