Commodity Futures Trading Commission Chair Michael S. Selig has instructed agency staff to begin preparing new market structure rules for the crypto sector, signaling that the CFTC could step in if Congress does not advance the Clarity Act.
Selig outlines CFTC’s approach if legislation stalls
At the inaugural meeting of the CFTC’s Innovation Advisory Committee, Selig emphasized his preference for bipartisan market structure legislation, stating that passing such a law is the best way to establish lasting oversight for digital assets. The Clarity Act is designed to create a unified federal framework for digital assets and to clarify the respective roles of the CFTC and the SEC in supervising crypto markets.
Selig noted that passing legislation would make the rules more durable and difficult for future administrations to undo. He referenced the tenure of former SEC Chair Gary Gensler, whose series of legal actions against crypto projects drew criticism across the industry.
Passing Clarity is the surest way that we can prevent another Gary Gensler from running a rogue campaign of lawfare against the individuals and companies in this room today, Selig said.
President Donald Trump also weighed in on Wednesday, calling on Congress to pass a “fair version” of the Clarity Act during a press conference attended by leading crypto executives.
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AAPLRegulatory framework to target exchanges, leveraged trading, and DeFi
If the legislative effort stalls, Selig stated that the CFTC is ready to move forward using its existing authorities, preparing to establish a regulatory regime for crypto markets. He reported that the staff is currently “exploring rules to codify a CFTC market structure for crypto assets.”
The outlined framework could bring currently registered CFTC participants and unregistered crypto exchanges under the agency’s regulation, allowing leveraged and margined digital asset trading within parameters tailored to the unique risks of the sector.
Additionally, Selig tasked staff with engaging developers of on-chain finance protocols about legal pathways to operate in the United States. This move aims to future-proof protections for developers working on decentralized platforms.
I’ve also directed staff to engage with developers of on-chain finance protocols to establish ways in which developers can offer their protocols in a legal and compliant manner in the United States, future-proofing developer protections once and for all, Selig stated, echoing previous remarks from President Trump.
According to Trump, the CFTC is also working to facilitate the entry of decentralized perpetual futures exchange Hyperliquid into the US market.
Next steps for CFTC and industry implications
Selig noted that while the agency will give Congress more time to consider and advance the Clarity Act, the CFTC will not hesitate to introduce new rules if legislative progress remains stalled.
“Rest assured, I will direct CFTC staff to move swiftly to propose these rules for the industry,” Selig stated.
The evolving regulatory landscape has prompted market participants to seek more efficient and consolidated tools for navigating compliance, trading, and news flow. In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.
The CFTC’s move is expected to significantly influence how exchanges, protocols, and investors operate as the regulatory debate over digital assets continues to evolve throughout the year.
