CFTC Chair Michael Selig Says Crypto Market Rules Will Advance Regardless of CLARITY Act

CFTC Chair Michael Selig says the agency has crypto market structure proposals ready and plans to advance its regulatory agenda even if Congress fails to pass the CLARITY Act.

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CFTC Prepares Crypto Rules as CLARITY Act Faces Senate Vote

U.S. Commodity Futures Trading Commission Chair Michael Selig said the agency is prepared to move ahead with crypto market structure rules regardless of the outcome of the CLARITY Act. His comments come before a key Senate procedural vote scheduled for September 15.

Selig said the CFTC already has rule proposals prepared, giving the regulator another path if lawmakers fail to reach an agreement. “Crypto will get market structure regardless of bill,” he said, indicating that the agency does not plan to wait indefinitely for Congress.

The CLARITY Act seeks to establish federal rules for digital assets and define oversight between the CFTC and SEC. The House passed its version in July 2025, while the Senate Banking Committee advanced its version in May 2026. However, lawmakers continue to negotiate issues involving ethics rules and stablecoin rewards.

Senate Majority Leader John Thune has scheduled a cloture vote on the motion to proceed for September 15. The measure needs 60 votes to advance through that procedural stage.

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Innovation Committee Turns Focus to Crypto Regulation

Selig’s comments come as the CFTC launches its Innovation Advisory Committee on August 20. The committee’s first meeting will cover crypto regulation, artificial intelligence in financial markets and prediction markets.

The crypto session will examine remaining questions around federal market structure and customer protection. The CFTC already oversees crypto derivatives, while Congress continues debating whether to expand its authority over spot digital commodity markets.

Meanwhile, the SEC is developing separate crypto rules. Securitize President Brett Redfearn said the agency recently pulled back a planned innovation exemption because of concerns surrounding the CLARITY Act vote. He expects the proposal could return after September 15.

Selig has taken a broader approach toward crypto products since becoming CFTC chair in December 2025. The agency has already approved perpetual Bitcoin futures, while additional crypto derivatives could follow under its regulatory agenda.

CFTC Also Targets U.S. Compute Markets

The CFTC is also seeking public feedback on derivatives tied to computing power used for artificial intelligence. The agency announced the request on August 19 as part of its work on emerging commodity markets.

Selig described computing capacity as a key commodity for the growing AI sector. “America cannot win the AI race without a robust derivatives market for compute,” he said.

The consultation covers market liquidity, manipulation risks, customer safeguards and possible perpetual compute futures. Public comments will remain open for 60 days after publication in the Federal Register.

CME Group and Silicon Data are also preparing contracts tied to GPU rental costs, subject to regulatory review. The planned products would track rental prices for Nvidia H100 and Blackwell B200 chips.

For more regulated access to digital assets, retail and institutional traders can use the best US crypto exchanges that operate under existing compliance requirements.