Back to Markets
Crypto▲ Bullish
CFTC Chair Says Clarity Act Nearing Finalization, Senate Next
CFTC Chair says Clarity Act nearing finalization after House passage. Senate holds the key to clear federal crypto rules. Bill would give CFTC sole authority over digital commodities.
Continue with
The CFTC Chair said the Clarity Act is nearing finalization, a step that would give the agency sole authority over digital commodities. The bill cleared the House. It now awaits Senate consideration.
The bill aims to resolve which regulator oversees digital assets. The SEC and CFTC both claim authority today. A clear CFTC rulebook would end that overlap for tokens classified as commodities. Bitcoin and Ethereum would fall under the CFTC. Platforms that trade or custody these assets would face a single federal rulebook. AlphaScala covered the bill's earlier progress. CFTC Chair Selig Sees Congress Nearing Crypto Bill Vote
Senate passage is uncertain. The calendar is crowded with spending bills and an election. The bill could face amendments that narrow the CFTC's mandate. Traders said the real risk is the SEC-CFTC jurisdictional dispute over staking and lending products. Those products sit in a gray zone. An amendment could keep them under joint oversight.