Morning Minute: Selig Says ‘It’s Go Time’ for CFTC Crypto Rules

GM!

Today’s top news:

• Crypto majors fall 3% alongside broader markets; BTC at $83.4k
• BTC ETF inflows stay positive with $347M in net inflows, $2B+ in 3 days
• CFTC’s Selig says “It’s Go Time” for crypto rules, focused on perps
• Trump admin weighs plans to push USD-backed stablecoins overseas
• Variational announces TGE details including 32% airdrop and 100% burn

$87.2k$83.6k$80.0k$76.4k

24h HighHigh$85,876

24h LowLow$82,941

VolVol$1.9B

Market projectionsOdds by Myriad

⚖️ Selig Says ‘It’s Go Time’ for CFTC Crypto Rules

Eight days after the Senate blocked the Clarity Act, CFTC Chair Mike Selig went on CNBC and said the agency is writing crypto market structure rules anyway. His phrase was “it’s go time.” He argued the CFTC’s existing statutory authority gives it room to act without Congress.

The week that followed the failed vote has been the busiest stretch of US crypto policy in years, and none of it required a bill.

Atkins and Selig both said within 24 hours that they would proceed. Since then:

• The SEC approved a five-year Innovation Exemption letting tokenized US stocks trade on public blockchains without exchange registration, effective immediately
• The SEC held a roundtable on 24-hour trading with NYSE, Nasdaq and DTCC in the room
• The CFTC issued a no-action letter letting wallet apps route users to regulated derivatives without registering as brokers
• The SEC sent a crypto custody proposal to OMB, and
• The CFTC filed two prerules with the White House, Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets, under RIN 3038-AF80