US House Advances Crypto Bill, CFTC Chair Criticizes Lack of Clarity

On August 21, the U.S. House Financial Services Committee advanced the "Crypto Regulation without Clarity Act" bill.

CFTC (Commodity Futures Trading Commission) Chairman Rostin Behnam publicly criticized the legislative proposal, noting that while it attempts to classify cryptocurrencies as commodities and delineate SEC and CFTC jurisdiction, it fails to set clear regulatory boundaries. Behnam stated that the bill leaves too many gaps in key authority divisions, which is expected to lead to inconsistent enforcement standards among regulators, driving up compliance costs and market uncertainty. He emphasized that resolving regulatory disagreements requires Congress to establish clear statutory language, rather than indefinitely delegating enforcement authority to federal agencies.

[TechFlow]