CFTC Prepares to Regulate Crypto Markets Amid Stalled Legislation

CFTC Chair Michael Selig emphasized that the agency is moving forward with cryptocurrency market-structure rules, even without new legislation from Congress.

Selig stated, 'It's go time' for crypto regulation, highlighting that the administration has planned for the possibility of stalled legislation.

The CFTC reviewed existing statutory authorities as part of the president's working group on digital asset markets and will continue to develop rules for the 'new frontier,' Selig said.

The agency sent two proposals, Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets, to the White House's Office of Information and Regulatory Affairs (OIRA) for review last week.