CFTC Moves to Accelerate Crypto Rules as Perpetual Futures Take Focus
Chairman Mike Selig said the agency will use existing authority to advance two proposed crypto market rules after the Senate rejected the CLARITY Act.
The Commodity Futures Trading Commission is moving to advance U.S. crypto market rules under its existing authority, with perpetual futures emerging as the agency’s main focus after the Senate rejected the CLARITY Act.
CFTC Chairman Mike Selig said the agency has submitted two proposed rules to the White House, covering crypto asset trading and crypto asset markets. He said the CFTC must reassess its rules for on-chain markets that operate around the clock and are shaped by algorithms and agent-driven finance.
Perpetual futures are central to the effort because the CFTC can create a designated contract market category for platforms offering leveraged crypto trading under federal derivatives oversight. The agency does not have jurisdiction over spot markets, however, meaning broader authority would still require legislation.
The approach gives U.S. regulators a way to advance crypto derivatives policy while lawmakers remain divided over market-structure legislation. The Senate’s rejection of the CLARITY Act came eight days before Selig’s remarks.
