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Michael Selig said at a meeting of the Innovation Advisory Committee that he had directed CFTC staff to explore developer protections and other crypto-related policies.<\/p>\n
Michael Selig, who chairs the US Commodity Futures Trading Commission (CFTC), signaled that the agency would not be idle while Congress continued to debate provisions in a cryptocurrency market structure bill.<\/p>\n
In prepared remarks for the inaugural meeting of the CFTC\u2019s Innovation Advisory Committee on Thursday, Selig said<\/a> that the commission would move forward on crypto regulations even in the absence of the Digital Asset Market Clarity (CLARITY) Act being passed by lawmakers, adding it would \u201chelp [Donald Trump] deliver if Congress will not.\u201d According to the chair, he had already directed staff to allow registered and non-registered entities to offer \u201ccrypto asset trading on a leveraged or margined basis\u201d and explore developer protections.<\/p>\n \u201cWe\u2019re going to give CLARITY its breathing room for a vote, but if the Democrats cannot support a bipartisan work product, which reflects compromises from both sides of the aisle, and ultimately send a fair version of the bill to the President\u2019s desk, then rest assured, I will direct CFTC staff to move swiftly to propose these new rules for the industry,\u201d said Selig.<\/p>\n