CFTC Chair Puts Congress on Notice With a Crypto Rules Backup Plan

By Isaac • August 20, 2026 3:18 pm •

Congress may still write the durable rules for America’s crypto markets. But the Commodity Futures Trading Commission is no longer treating legislation as the only path forward.

CFTC Chairman Michael S. Selig has directed his staff to start exploring a market-structure framework the agency could propose under its existing authority if lawmakers fail to pass the Clarity Act.

That turns the bill’s delay from a political stalemate into a live regulatory deadline for exchanges, traders, and developers.

In a Decrypt report from Thursday’s inaugural meeting of the CFTC’s Innovation Advisory Committee, Selig said legislation remains his preferred outcome. A law would establish clearer boundaries between the CFTC and Securities and Exchange Commission and would be harder