CFTC Pushes Ahead with Crypto Rules After Senate Blocks Clarity Act

The Commodity Futures Trading Commission (CFTC) has announced plans to advance crypto regulations after the Senate blocked the CLARITY Act, a bill aimed at providing clarity on digital commodity markets.

CFTC Chairman Michael Selig stated that existing authority will support new crypto rules, and that Americans deserve regulatory clarity, legal certainty, and consumer protections in crypto markets.

The agency had prepared for this regulatory route before the Senate vote, with Selig stating during an August 20 Innovation Advisory Committee meeting that staff was exploring market-structure rules under existing authority.