US Regulators Write Crypto Rules Ahead of Congressional Vote

The US government's regulatory agencies, SEC and CFTC, plan to finalize crypto rule proposals before the current administration ends, regardless of whether Congress passes the CLARITY Act.

CFTC Chair Michael Selig said on Aug. 4 that the agency has ready-to-go rule proposals for leveraged retail crypto transactions and a purpose-built exchange registration category.

The SEC, led by Commissioner Hester Peirce, can continue pursuing meaningful crypto rulemaking even if Congress fails to act, according to their statements.