CFTC Readies Backup Crypto Rules Amid CLARITY Act Stalemate

The U.S. Commodity Futures Trading Commission (CFTC) is preparing to create a new market structure for crypto assets if Congress fails to pass the CLARITY Act.

CFTC Chairman Michael S. Selig said he has directed staff to explore rules that could create a CFTC market structure for crypto assets, which would allow current CFTC registrants and some unregistered crypto exchanges to operate as regulated crypto asset markets offering leveraged or margined trading.

The proposed approach would give crypto exchanges another possible route into a federal framework while Congress continues its debate over legislation.