CFTC Presses On with Crypto Rules Despite Clarity Act Setback

The US Commodity Futures Trading Commission (CFTC) is moving forward with cryptocurrency regulations despite the Senate's failure to advance the Clarity Act.

The CFTC's Chair, Michael Selig, stated that the agency will continue developing rules within its existing authority if Congress does not deliver the legislation.

This development gives the crypto market another potential route toward federal regulatory rules, with the roughly $2 trillion US cryptocurrency market awaiting clearer guidelines.