CFTC Chair Michael Selig indicated the agency will proceed with crypto market structure rules even if Congress does not pass the CLARITY Act. He directed staff to explore developer protections and other crypto-related policies, signaling a move forward on regulation.
The CFTC's proactive stance on crypto regulation, independent of congressional action, signals a potential shift in how digital assets will be governed in the U.S., impacting market participants and innovation.
U.S. Commodity Futures Trading Commission (CFTC) Chair Michael Selig signaled that the agency will move forward with its own cryptocurrency market structure rules, even if Congress fails to pass the Digital Asset Market Clarity (CLARITY) Act. Selig stated that the CFTC has rule proposals ready and does not plan to wait indefinitely for legislative action.
The CLARITY Act, aimed at establishing federal digital asset rules and clarifying oversight between the CFTC and the Securities and Exchange Commission (SEC), faces a procedural vote in the Senate on September 15. While the House passed its version in July 2025 and the Senate Banking Committee advanced its version in May 2026, negotiations continue on various provisions.
Selig's comments were made during the inaugural meeting of the CFTC’s Innovation Advisory Committee on August 20, which focused on crypto regulation, artificial intelligence in financial markets, and prediction markets. The CFTC is also seeking public input on derivatives tied to computing power, a key commodity for the AI sector, with CME Group and Silicon Data developing contracts linked to GPU rental costs.
Selig has been solely responsible for directing the CFTC’s agenda since December 2025, having previously approved perpetual Bitcoin futures and continuing to explore additional crypto derivatives.
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