CFTC to Press Ahead with Crypto Rules Despite Uncertainty Over CLARITY Act

CFTC Chair Michael Selig has stated that the agency will proceed with its regulatory agenda for the crypto market regardless of the outcome of the CLARITY Act.

The CLARITY Act aims to establish federal rules for digital assets and define oversight between the CFTC and SEC, but lawmakers are still negotiating issues involving ethics rules and stablecoin rewards.

Selig said that the CFTC already has rule proposals prepared, giving the regulator another path if Congress fails to reach an agreement.

The agency's Innovation Advisory Committee will hold its first meeting on August 20, covering topics such as crypto regulation, artificial intelligence in financial markets, and prediction markets.