‘It’s Go Time’: CFTC To Write Crypto Rules Without Congress After CLARITY Act Fails

The CFTC says it will move forward with clear crypto market rules on its own, despite the CLARITY Act failing to pass. “The agencies have a ton of existing statutory authority. The President was prepared for it, we’re prepared for it, and so it’s go time,” said Chairman Mike Selig. Selig said the agency will “continue to ship rules,” signaling the CFTC intends to establish defined crypto regulations independently rather than waiting for Congress to revisit the legislation.