CFTC Chair Michael Selig Says Agency Will Write Crypto Rules If CLARITY Act Fails: how 17 outlets framed it

CFTC moves if CLARITY stalls

US Commodity Futures Trading Commission (CFTC) Chair Michael Selig said at the agency’s inaugural Innovation Advisory Committee meeting that crypto regulation is not “waiting on Washington” to catch up, even as lawmakers debate the Digital Asset Market Clarity (CLARITY) Act.

“crypto regulation is not “waiting on Washington” to catch up”

Selig said CFTC staff had already been directed to permit both registered and non-registered entities to provide “crypto asset trading on a leveraged or margined basis,” and to explore protections for developers.

He framed the approach as giving CLARITY “breathing room” for a vote, but accelerating implementation if Congress fails to send what he described as a fair, bipartisan bill to the White House.

The legislative timeline described in the coverage ties CLARITY to a planned Senate cloture vote expected when the chamber returns in September, with the bill needing 60 votes to pass the Senate and then returning to the House for approval before reaching President Donald Trump’s desk.

In parallel, the CFTC’s agenda included prediction markets, with Selig reiterating the agency’s view of “exclusive jurisdiction” tied to event contracts.