CFTC Chair Michael Selig Says ‘It’s Go Time’ for Crypto Rules, Plans ‘24/7 On-Chain’ Future

In an interview with CNBC, CFTC Chair Michael Selig said the agency is moving ahead with crypto market-structure rules despite the lack of new legislation.

• Selig said existing statutory authority gives the CFTC room to advance crypto rules through agency rulemaking.
• Selig said the CFTC is also preparing for financial markets that operate “24/7 on-chain” and increasingly rely on automation, algorithms and agentic finance.
• Last week, the CFTC submitted two crypto-related proposals, Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets, to OIRA for review.

Commodity Futures Trading Commission (CFTC) Chair Michael Selig said on Wednesday that the agency is moving ahead with crypto market-structure rules despite the lack of new legislation, arguing that existing statutory authority gives regulators room to act.

“It’s go time,” Selig said in a CNBC interview, adding that the administration had prepared for the possibility that legislation would not move forward.

“The president has said since day one we’re going to have crypto market structure done,” Selig stated. “That means either legislation or rulemaking, and the agencies have a ton of existing statutory authority.”

Bitcoin (BTC) and the broader cryptocurrency market rallied last week after the CFTC filed two new proposals, Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets, with the White House's Office of Information and Regulatory Affairs (OIRA) for review.