US CFTC Chair: Will Advance Rules for Crypto Asset Markets Based on Existing Statutory Authority

BlockBeats news, September 16 — Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), commented on the Senate vote result for the CLARITY Act, calling the outcome "regrettable" and stating that the American people deserve regulatory clarity, legal certainty, and consumer protection in the crypto asset market.

Selig said that Trump has committed to establishing a future-proof regulatory structure for the crypto asset market in some form, and the CFTC will assist in advancing the related work under its existing statutory authority. He stated that the United States is and will continue to be the global capital of crypto, and the CFTC is ready to issue relevant rules for the new frontier of finance.