CFTC and SEC Double Down on Crypto After Clarity Act Defeat

In brief

• CFTC Chair Michael Selig said the agency is “ready to ship” its crypto rules.
• SEC Chair Paul Atkins pledged action “with or without legislation.”
• The comments come after the Clarity Act fell short of the 60 votes needed to clear a Senate procedural hurdle.

The heads of the Commodity Futures Trading Commission and Securities and Exchange Commission pledged to press ahead with crypto regulation using their existing powers after the Senate failed to advance the Clarity Act.

In a post on X on Wednesday, CFTC Chair Mike Selig said his Commission is “locked in and ready to ship its rules for the new frontier of finance.”

“The outcome of yesterday’s Senate vote was unfortunate,” he said. “Americans deserve regulatory clarity, legal certainty, and consumer protections in crypto asset markets.”

Selig said the agency would help President Donald Trump deliver a crypto regulatory framework “using our existing statutory authorities.”

SEC Chairman Paul Atkins echoed the commitment to agency action in a Wednesday post on X, thanking those who had worked on the bill across government and the industry.

“I have been unequivocal: with or without legislation, we will act decisively within the SEC’s statutory authority to deliver certainty for American investors and for the entrepreneurs shaping our technological future,” Atkins wrote, adding “stay tuned.”