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Selig Turns Up Heat as CFTC Readies Crypto Rules

August 20, 202606:22 PM
Selig Turns Up Heat as CFTC Readies Crypto Rules

CFTC Chairman Michael Selig has directed agency staff to prepare a backup regulatory framework for cryptocurrency markets should Congress fail to advance the stalled Clarity Act. Speaking at the CFTC Innovation Advisory Committee's inaugural meeting, Selig made clear that legislation remains his preferred path but emphasized the agency is preparing to act independently if necessary.

This CFTC initiative marks a significant development in the U.S. crypto regulatory landscape, with potential profound consequences for exchanges, miners, and investors nationwide. The preparation of standalone rules by the CFTC could accelerate crypto sector regulation, setting a precedent for other agencies and influencing global crypto policy development.

This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.

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