The CFTC chair stated the agency is ready to regulate crypto if new legislation does not provide clear rules. He has asked staff to study developer protections and other crypto policies. This signals a push for direct regulatory action if Congress stalls.
The head of the Commodity Futures Trading Commission (CFTC) has indicated the agency will step in to create rules for the crypto market. This will happen if Congress does not pass new laws to provide clear guidance for digital assets. During a recent meeting of the Innovation Advisory Committee, the chairman, Michael Selig, confirmed his instructions to CFTC teams. These teams are tasked with looking into ways to protect developers and also other important policies related to crypto. This move shows the CFTC's readiness to take direct action to oversee the fast-growing crypto space if lawmakers delay.
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