CFTC Chairman Mike Selig says the agency will move ahead with market-based rules for crypto exchanges without waiting for the Clarity Act. The Senate failed to advance the bill, and market pricing suggests the odds of it becoming law in 2026 are low.
CFTC Chairman Mike Selig announced the agency will proceed with market-based regulations for crypto exchanges instead of waiting for Congress. The decision follows the Senate's failure to advance the Clarity Act, which was meant to set a comprehensive federal framework for the crypto industry.
The plan rests on two proposed regulations. Regulation CTX covers retail crypto transactions, and Regulation CAM covers federally registered crypto-market venues. The CFTC wants to create an optional federal regulatory path.
However, its reach is limited. Without congressional support, the agency has limited authority, so current spot exchanges will largely remain under state jurisdiction.
Meanwhile, market pricing suggests the odds are low, stable at 6%, that the Clarity Act is signed into law in 2026. According to Crypto Briefing, the CFTC's proposals may influence how market participants weigh federal regulation against state-level oversight.
Observers are watching President Trump and Treasury Secretary Scott Bessent for signs of support or opposition to the bill. Any movement from the Senate Banking Committee could also affect how the market reads the bill's prospects.
Source: Crypto Briefing
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