CFTC Prepares for Unilateral Action on Crypto Rules Amid Clarity Act Delays

The Commodity Futures Trading Commission (CFTC) is moving forward with developing crypto market rules, even as lawmakers struggle to advance the Clarity Act.

CFTC Chair Michael Selig has directed agency staff to create a framework using existing regulatory powers. This move suggests that regulators may take unilateral action if Congress fails to pass legislation.

Selig still prefers bipartisan legislation, which could provide clearer and more durable market rules. However, continued delays could push the CFTC toward independent action.

The proposed approach would bring crypto exchanges and existing CFTC registrants under broader oversight. Eligible platforms could offer leveraged and margined digital asset trading under tailored requirements.