CFTC Chair Warns Agency Will Draft Crypto Rules If Congress Fails to Act

CFTC Chairman Mike Selig addressed the first-ever meeting of the agency's Innovation Advisory Committee with a firm stance on crypto regulation. He signaled that the CFTC will not remain passive if the Digital Asset Market Clarity Act fails to pass through Congress. Selig put staff on notice to begin preparing their own crypto regulatory framework as a contingency measure. The remarks underscore growing urgency within the CFTC to establish clearer oversight of digital asset markets.