CFTC will use statutory authority to regulate crypto, Chairman Selig says
Commodity Futures Trading Commission Chairman Michael Selig announced that the agency will use its existing statutory authority to establish a federally regulated path for crypto after Congress failed to pass market structure legislation.
Commodity Futures Trading Commission Chairman Michael Selig stated during a CNBC appearance that the agency will move ahead using its existing statutory authority to regulate crypto after Congress failed to pass market structure legislation. Selig voiced disappointment that lawmakers did not advance the CLARITY Act to Donald Trump's desk, signaling that the regulator will not wait on legislative action to introduce rules.[1][2][5][7][9]
Selig explained that the CFTC will apply its statutory powers to protect Americans and provide a federally regulated path for the digital asset industry. He noted that the Securities and Exchange Commission is pursuing a similar path, pointing to proposed regulations covering a framework for distributing crypto assets. An on-screen graphic during Selig's CNBC Squawk Box interview displayed the banner "CFTC PROPOSES NEW CRYPTO RULES."[1][2][3][4][6][9][10]
According to reporting by Crypto Briefing, establishing an agency framework could increase institutional confidence and market stability, though broader oversight of the digital asset market continues to depend on future legislation.[8]
Key facts
- CFTC Chairman Michael Selig expressed disappointment with Congress for failing to pass the CLARITY Act and get market structure legislation to Donald Trump's desk.
- Selig announced the CFTC will use its existing statutory authority to protect Americans and establish a federally regulated path for crypto.
- Selig said the SEC is also using its authority and has issued proposed rules outlining a framework for distributing crypto assets.
- A graphic during Selig's CNBC Squawk Box segment read "CFTC PROPOSES NEW CRYPTO RULES."
- Crypto Briefing reported that while the CFTC's framework could improve market stability and institutional confidence, broader crypto oversight remains contingent on future legislation.
Sources · 9 sources
- BC
Bitcoin.com News@BitcoinNewsPost on X ·
JUST IN: 🇺🇸 "I am absolutely disappointed in Congress... but we've got statutory authority and we're going to use it," says CFTC Chairman Michael Selig. "The SEC is doing the same. They issued their proposed reg crypto assets... the framework for distributing crypto assets." 💬 https://t.co/GZfwCtkIKB
Open source - BM
Bitcoin Magazine@BitcoinMagazinePost on X ·
JUST IN: 🇺🇸 CFTC Chairman Mike Selig talks to CNBC about the newly proposed crypto rules. "I am absolutely disappointed in congress...but we've got statutory authority and we're going to use it" 🚀 https://t.co/m8zXGZEQCR
Open source - WG
Watcher.Guru@WatcherGuruPost on X ·
JUST IN: 🇺🇸 CFTC says it's going to "provide a federally regulated path for crypto."
Open source - WI
Whale Insider@WhaleInsiderPost on X ·
JUST IN: 🇺🇸 CFTC says it's going to provide a "federally regulated" path for crypto. https://t.co/vP0A4x8JCe
Open source - CO
CoinMarketCap@CoinMarketCapPost on X ·
LATEST: 🇺🇸 CFTC Chair Michael Selig told CNBC he's "absolutely disappointed in Congress" for failing to pass the CLARITY Act, adding, "we've got statutory authority and we're going to use it." https://t.co/uip1FckN2s
Open source - KC
Kalshi Crypto@Kalshi_CryptoPost on X ·
JUST IN: Mike Selig says CFTC will "provide a federally regulated path for crypto"
Open source - KC
Kalshi Crypto@Kalshi_CryptoPost on X ·
JUST IN: Mike Selig says the CFTC will regulate crypto after Congress failed to pass Clarity Act
Open source - CB
Crypto BriefingArticle ·
CFTC unveils federally regulated path for crypto exchanges The CFTC's regulatory framework could boost institutional confidence and market stability, but broader oversight hinges on future legislation. The post CFTC unveils federally regulated path for crypto exchanges appeared first on Crypto Briefing .
Open source - TW
The Wolf Of All Streets@scottmelkerPost on X ·
CFTC CHAIR SELIG: "I’M DISAPPOINTED THAT CONGRESS FAILED TO GET MARKET STRUCTURE LEGISLATION TO TRUMP'S DESK." "BUT THE CFTC HAS STATUTORY AUTHORITY AND WE'RE GOING TO USE IT TO PROTECT AMERICANS AND PROVIDE A FEDERALLY REGULATED PATH FOR CRYPTO." https://t.co/8tPYbo8a7O
Open source - CR
Crypto Rover@cryptoroverPost on X ·
JUST IN: 🇺🇸 CFTC Chair Mike Selig says the agency will provide crypto market structure rules despite Congress failing to pass the CLARITY Act. “The SEC is doing the same.” One way or another, CLARITY is coming! 🚀 https://t.co/sddoZktNM8
Open source