Commodity Futures Trading Commission chair Michael Selig outlined a route for developing a US crypto market structure using the regulator’s existing powers if Congress fails to pass the Digital Asset Market Clarity Act (Clarity Act).
The comments, published on August 20, followed a White House innovation meeting on August 19, where Selig said Congress was advancing the Clarity Act “towards the finish line” and that the CFTC stood ready to implement it if it became law. He said the regulator would use “every tool available” to advance the administration’s innovation agenda in the meantime and added he would provide more detail on its regulatory roadmap the following day.