CFTC moves to establish crypto market rules under existing authority, Chair Selig says
Commodity Futures Trading Commission Chair Michael Selig announced that the agency is using its existing statutory powers to establish a crypto market structure following stalled legislation in Congress.
Commodity Futures Trading Commission (CFTC) Chair Michael Selig announced that the agency is moving ahead to establish a crypto asset regulatory market structure using its existing statutory authorities, declaring that "it's go time." Selig stated that regulatory agencies hold extensive existing powers, adding that the agency is prepared to proceed without Congress and will "continue to ship rules."[1][2][4][5][7]
The administrative push comes after the CLARITY Act, a legislative proposal on crypto market structure, stalled in the U.S. Senate. Both the CFTC and the Securities and Exchange Commission (SEC) are pursuing parallel rulemaking efforts under their independent authorities, with Selig noting that the President was prepared for agencies to deploy their existing mandates.[1][3][6]
Beyond broad market structure rules, Selig stated that the CFTC is updating rules addressing 24/7 trading, tokenization, and autonomous AI trading agents. The commission has scheduled its first public roundtable on AI trading agents for October 28.[7]
Key facts
- CFTC Chair Michael Selig stated the agency is using its existing statutory authorities to establish a crypto asset regulatory market structure.
- Selig declared that "it's go time" and affirmed that the CFTC will "continue to ship rules."
- The CFTC's rulemaking initiative follows the failure and stalling of the CLARITY Act in the U.S. Senate.
- The SEC and CFTC are engaging in parallel rulemaking pushes to draft crypto market regulations under their own authorities.
- Selig stated that the CFTC is updating rules concerning 24/7 trading, tokenization, and AI trading agents.
- The CFTC has scheduled a public roundtable focusing on AI trading agents for October 28.
Sources · 7 sources
- CB
Coin Bureau@coinbureauPost on X ·
🇺🇸BREAKING: CFTC says it will write crypto market rules without Congress after the CLARITY Act failed. "The agencies have a ton of existing statutory authority... the President was prepared for it, we're prepared for it, and so it's go time," says Chairman Mike Selig. "We're going to continue to ship rules."
Open source - BM
Bitcoin Magazine@BitcoinMagazinePost on X ·
JUST IN: 🇺🇸 CFTC Chairman Mike Selig says the CFTC "is utilizing its existing statutory authorities to establish a crypto asset regulatory market structure." 👀 "It’s GO TIME." 🚀 https://t.co/5BLIV0g4BO
Open source - TM
That Martini Guy ₿@MartiniGuyYTPost on X ·
The CFTC says it is moving forward with “clear” rules for the U.S. crypto market Despite the Clarity Act not passing, agencies are now moving toward establishing defined crypto rules without it “It’s GO TIME”, the CFTC said in relation to pressing ahead with regulation https://t.co/F9cw5UN6kU
Open source - CB
Crypto Briefing@Crypto_BriefingPost on X ·
⚖️NEW: CFTC Chair Michael Selig says the agency is using its existing statutory authorities to establish a regulatory market structure for crypto assets. Selig says the CFTC is moving ahead with clear rules for the industry. https://t.co/Uwn1i3rDdM
Open source - TW
The Wolf Of All Streets@scottmelkerPost on X ·
CFTC CHAIR MIKE SELIG: “THE CFTC IS UTILIZING ITS EXISTING STATUTORY AUTHORITIES TO ESTABLISH A CRYPTO ASSET REGULATORY MARKET STRUCTURE.” “IT’S GO TIME.”
Open source - QU
Quartz@qzPost on X ·
SEC and CFTC move to write crypto rules after Clarity Act stalls in Senate: With the Clarity Act stalled in the Senate, the SEC and CFTC are moving to draft crypto market regulations on their own authority. The agencies' parallel rulemaking push signals… https://t.co/fhSbyP4kCZ
Open source - BS
BSCN@BSCNewsPost on X ·
The CFTC isn't waiting for Congress anymore CFTC Chair Mike Selig (@ChairmanSelig) says it's "go time" for crypto rules. The agency will build a crypto market structure with powers it already has. Selig also says the @CFTC is updating its rules for 24/7 trading, tokenization, and AI agents that trade on their own. Its first public roundtable on that last topic is set for October 28.
Open source