CFTC to Advance Crypto Rules if CLARITY Stalls

CFTC Chairman Michael Selig warned that if Congress fails to pass the Digital Asset Market Clarity Act (CLARITY), the Commodity Futures Trading Commission will advance its own rules for cryptocurrency markets. The bill, which aims to clarify oversight responsibilities between the CFTC and the Securities and Exchange Commission, has stalled in the Senate.

Selig stated that the agency would rely on existing authority under the Commodity Exchange Act to develop a framework for crypto market structures, including registered firms and currently unregistered exchanges. The chairman also directed staff to examine leveraged or margined crypto trading under tailored CFTC rules.

The CLARITY Act has been pending in the Senate since September 2025, when it was referred to the Banking, Housing, and Urban Affairs Committee. A cloture motion on the bill is scheduled for September 15, 2026. If passed, the legislation would require joint and separate rulemaking from federal market regulators.