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CFTC's Selig: Crypto market rules coming with or without Congress
CFTC Chairman Selig confirms the agency has rule proposals ready for digital asset markets and will advance them regardless of the CLARITY Act's Senate fate. Full implementation is still quarters away.
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The U.S. Commodity Futures Trading Commission plans to move forward with rule proposals for digital asset markets regardless of whether Congress passes the Digital Asset Market Clarity Act, Chairman Michael Selig said on August 4, 2026.
The agency has prepared proposals aimed at providing what Selig called certainty and consumer protection across digital asset markets. Those proposals are ready to advance, he said, without waiting for the CLARITY Act to clear the Senate.
The CLARITY Act, formally H.R. 3633, passed the House in 2025. It would establish the CFTC as the primary federal overseer of spot digital commodity markets. But its Senate path remains uncertain, with provisions on stablecoins still under negotiation.
Selig said the CFTC doesn't need the bill to act. He advocated for a single federal framework over a state-by-state approach. A trading platform serving customers in fifty states can't comply with fifty different rulebooks without enormous cost and legal exposure, he argued.