Selig Declares 'Go Time' for Crypto Rules Amid Legislative Gridlock

CFTC Chair Michael Selig says it's 'go time' for crypto rules. Despite the lack of new legislation, the agency is moving ahead with market-structure rules.

Selig argues that existing statutory authority gives regulators room to act on their own initiative.

The CFTC submitted two crypto-related proposals, Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets, to OIRA for review last week.

These moves come after the CLARITY Act failed to clear the Senate, leaving the legislative path for a broader crypto market-structure framework unresolved.