CFTC plans crypto rules regardless of CLARITY Act

The Commodity Futures Trading Commission has prepared digital asset market structure proposals that could move forward even if Congress does not pass the CLARITY Act. Summary CFTC Chair Michael Selig said crypto market structure would proceed regardless of the bill’s outcome. The CLARITY Act faces a Senate procedural vote on Sept. 15 and needs 60 votes to advance. CFTC advisers are discussing digital assets, artificial intelligence and prediction markets on Aug. 20. The agency has separately requested public input on derivatives tied to artificial intelligence computing capacity. Whale Insider reported on Aug. 20 that Selig said the CFTC already had regulatory proposals prepared, giving the agency a route to continue its crypto agenda if lawmakers fail to complete the legislation. “Crypto will get market structure regardless of bill,” Selig said, according to the report. Selig’s statement did not identify which proposals the agency has finished drafting, when it could publish them, or how much of the planned framework could be created under the CFTC’s current legal powers. Congress would still need to act before the regulator could receive the full spot-market authority contemplate...