Regulators to Keep Issuing Crypto Rules Under Existing Authority

Regulators in the US will continue to issue rules for the crypto industry under existing authority, according to CFTC Chair Michael Selig. He stated that regulators have substantial statutory authority under current law. Selig's comments came during his work on the president's Digital Assets Market Working Group.

The existing authority is intended to help prepare for new areas of finance. This move is a significant development in the ongoing regulation of the crypto industry. The rules will likely have a significant impact on market participants, and it remains to be seen how the industry will adapt.