CFTC Chair Selig confirms market structure rules for crypto will proceed with or without Clarity Act passage, and the agency is developing standards for AI compute futures.
Regulation & Gov ·
CFTC Chairman Michael Selig stated that crypto market structure rules will be established regardless of whether Congress passes the Clarity Act, signaling the agency's readiness to proceed unilaterally if legislative efforts stall. Selig indicated the CFTC possesses existing statutory authority to develop regulations without new legislation. The Clarity Act, which would grant the CFTC primary oversight of digital assets, has encountered Senate delays tied to disputes over ethics provisions.
Beyond crypto market structure, the CFTC is advancing rules for prediction market event contracts and has opened a public consultation on "compute" futures linked to AI infrastructure. Selig noted the agency is coordinating with the Commerce Department to establish standards for these AI compute futures products to ensure market appropriateness.
What remains unclear is the specific timeline and scope of the market structure rules the CFTC intends to impose, or the degree to which any independently developed regulations might diverge from the framework the Clarity Act would establish. The outcomes of the Commerce Department coordination on AI compute futures standards and the public consultation process are also pending.