CFTC Chair Plans Crypto Rulemaking After Clarity Act Vote Fails

Commodity Futures Trading Commission Chairman Mike Selig is set to work with President Trump on advancing cryptocurrency regulations after the Clarity Act failed to secure approval in a vote. The development puts the CFTC at the center of the next phase of U.S. crypto-policy efforts, with the agency expected to write rules rather than wait for the legislation to move forward. Bitcoin Magazine reported that Selig will coordinate with Trump to pursue the regulatory agenda. The source did not provide details on the timing, scope or specific provisions of the rules. It also did not outline how the failed vote could affect individual digital assets, including Bitcoin or other cryptocurrencies. For market participants, the report signals continued movement on crypto regulation through the CFTC, although the eventual framework remains unspecified.