CFTC Vows to Regulate Crypto Regardless of Congressional Action

The Commodity Futures Trading Commission (CFTC) is determined to establish market structure rules for the crypto industry, regardless of whether Congress passes landmark legislation or not. Chairman Michael Selig made this clear in an interview with Bloomberg Television ahead of the agency's inaugural Innovation Advisory Committee meeting.

Selig emphasized that having a well-defined market structure is crucial for the industry's growth and stability. He stated that rules can be implemented through existing laws, making it clear that the CFTC will not wait for Congress to act.