LATEST: 🇺🇸 CFTC Chair Mike Selig says "we're so close" on the CLARITY Act, warning that without it, "you end up with regulators like me writing all the rules."

What happened

CFTC Chair Mike Selig said the agency is "so close" to passing the CLARITY Act and warned that without it, regulators would have to write all the rules themselves.

Confirmed

Global impact / market context

The CLARITY Act would give the CFTC clearer authority to oversee crypto derivatives, reducing regulatory uncertainty for firms and potentially encouraging more market participation.

Analyst inference

Crypto markets have faced mixed signals from regulators, and a formal rulemaking framework could stabilize investor confidence and support price stability for digital assets.

Analyst inference

What to watch

1. Progress of the CLARITY Act through Congress, as legislative approval will determine when new rules can be implemented. Proposed
2. CFTC’s detailed rule proposals following the Act, which will show how the agency plans to supervise crypto derivatives. Proposed
3. Further statements from Chair Selig about the need for the Act, indicating how regulators might act if the legislation stalls. Confirmed

Evidence

• x.com