CFTC Chair Michael Selig says the US crypto market will get clearer rules even if Congress fails to pass the CLARITY Act. The Commodity Futures Trading Commission already has crypto market structure proposals ready and plans to move ahead with its regulatory agenda. Selig’s comments come ahead of a key Senate procedural vote on September 15.
The CLARITY Act aims to create a federal framework for digital assets and clarify the roles of the CFTC and SEC. However, Selig says the agency does not intend to wait indefinitely for lawmakers to reach a deal.
If CLARITY continues to stall because of Democratic obstruction, the @CFTC will utilize its existing authorities to begin establishing a regime for crypto asset markets. We owe it to the American people to do so.
Here’s how we’ll get it done ⬇️ pic.twitter.com/mROqraLzFe
— Mike Selig (@ChairmanSelig) August 20, 2026
“Crypto will get market structure regardless of bill,” Selig said, making it clear that the CFTC has another route to advance regulation. The agency currently oversees crypto derivatives, while Congress is still debating whether the regulator should receive wider authority over spot digital commodities.
The House passed its version of the CLARITY Act in July 2025, while the Senate Banking Committee advanced its version in May 2026. However, there are still concerns that need to be resolved between the two parties, such as the treatment of prizes associated with stablecoins and ethics provisions.
A cloture vote has been set on September 15 by Senate Majority Leader John Thune. Before the measure can proceed, 60 senators must endorse it in a procedural vote.
Selig’s remarks coincided with the August 20 introduction of the CFTC’s Innovation Advisory Committee. Its first meeting is expected to cover several fast-changing areas, including crypto regulation, artificial intelligence in financial markets and prediction markets.
The crypto discussion will focus on unresolved questions about market structure and customer protection. At the same time, the Securities and Exchange Commission is working on its own set of crypto-related rules.
The regulatory picture could therefore develop on two tracks. Even if Congress takes longer to pass the CLARITY Act, agencies may continue using their existing powers to bring more clarity to parts of the digital asset market.
Selig has also taken a more supportive approach towards crypto products since becoming CFTC chair in December 2025. Under his leadership, the agency has approved perpetual Bitcoin futures, with more crypto derivatives potentially coming under its regulatory agenda.
His broader agenda also extends beyond crypto. On August 19, the CFTC sought public feedback on derivatives linked to computing power used by artificial intelligence companies. Selig described computing capacity as an important commodity for the rapidly expanding AI industry.
The consultation will examine issues such as liquidity, market manipulation, customer protection and the possibility of perpetual futures based on computing capacity. Public comments will remain open for 60 days after the proposal is published in the Federal Register.
Meanwhile, CME Group and Silicon Data are preparing contracts linked to GPU rental prices, subject to regulatory approval. The proposed products would track rental costs for Nvidia’s H100 and Blackwell B200 chips.
For the crypto industry, Selig’s message is significant: regulation may not be held hostage to the pace of congressional negotiations. Whether through the CLARITY Act or agency-led rulemaking, the US appears to be moving closer to a more defined regulatory structure for digital assets.
JUST IN: 🇺🇸 CFTC’s Selig says ‘Crypto will get market structure regardless of bill.’ pic.twitter.com/h0Olv6WF54
— Whale Insider (@WhaleInsider) August 20, 2026
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