Overview
- CFTC Chairman Mike Selig told the agency’s Innovation Advisory Committee that he has directed staff to draft comprehensive crypto rules, a plan he unveiled on Thursday, Aug. 20.
- The draft work includes limits and rules for leveraged and margined crypto trading, a new regulatory category modeled on the CFTC’s designated contract markets, and legal protections for blockchain developers.
- The Senate bill known as the Digital Asset Market CLARITY Act remains stalled and must win 60 votes to advance, with much opposition focused on strengthened ethics provisions tied to the president’s crypto holdings.
- The Securities and Exchange Commission published its own Regulation Crypto Assets proposal this week, offering a conditional safe harbor for some tokens but leaving agency rules open to court challenges or reversal without a law.
- Industry leaders want faster certainty and say U.S. policy affects where firms operate, yet agency action could produce fragmented, temporary rules while the CFTC runs with only one Senate‑confirmed commissioner.