CFTC Vows to Forge Ahead with Crypto Rules Despite Clarity Act's Stalled Progress

CFTC Chairman Mike Selig said his agency will move forward with writing rules for cryptocurrencies despite the Clarity Act's procedural vote failure.

The long-awaited legislation aimed to divide oversight between regulators and distinguish which digital assets are securities, commodities, or stablecoins.

Selig emphasized that Americans deserve 'regulatory clarity, legal certainty, and consumer protections in crypto asset markets,' and that the CFTC will help President Trump achieve this goal using its existing statutory authorities.

The Clarity Act had been passed by the House of Representatives last year but stalled after the banking lobby clashed with lawmakers and crypto businesses over issues like platform fees.