CFTC Chairman: Will Leverage Existing Statutory Authority to Advance Crypto Regulatory Rulemaking

On September 16, CFTC Chairman Michael S. Selig issued a statement expressing regret over the Senate's vote on crypto assets the previous day, emphasizing that the American public deserves regulatory clarity, legal certainty, and consumer protection in the crypto asset market.

Selig stated that President Trump has committed to advancing crypto asset regulatory market structure construction in any way possible, and the CFTC will utilize its existing statutory authority to assist in achieving this goal. He reiterated that the United States is and will remain the global crypto hub, and the CFTC is ready to introduce rules targeting the "new frontier of finance."

[TechFlow]