Trump regulators push crypto rules as legislation stalls

President Trump had pledged to create a tailored regulatory regime for the digital assets market, but with the Clarity Act now stalled, the SEC and CFTC represent the primary avenues for fulfilling that promise. Goldsmith stated that the CFTC is prepared to implement rules for the new financial frontier. Gensler echoed this sentiment, asserting that the SEC will act decisively within its existing authority to provide certainty for investors and entrepreneurs.

However, these agency-led initiatives may face significant opposition. Some major financial institutions are reportedly monitoring whether crypto firms will be allowed to operate under different rules. Furthermore, the lack of legislative backing means the agencies' plans could be vulnerable to legal challenges and future shifts in political administrations.

Beyond regulatory frameworks, Gensler and Goldsmith are also expected to advance the adoption of 24-hour trading days, a characteristic of crypto markets. The SEC, in particular, is reportedly close to unveiling a plan that would permit the trading of US stocks using crypto technology, a development that has raised concerns among traditional financial firms like Citadel Securities.