CFTC News: Selig Advances Crypto Rules After CLARITY Setback

Points clés

• CFTC news shifted toward agency rulemaking after the CLARITY Act Senate vote.
• Michael Selig said existing authority would support new crypto rules.
• The CLARITY Act failed to clear the Senate’s cloture threshold.

Commodity Futures Trading Commission Chairman Michael Selig said the agency would advance crypto rules after the Senate blocked the CLARITY Act. The latest CFTC news followed a September 15 procedural vote that stopped H.R. 3633 from moving forward.

The failed vote shifted attention toward agency rulemaking rather than new legislation. Existing authority gives the CFTC room to regulate derivatives and police commodity-market fraud. However, Congress had proposed a broader statutory structure covering digital commodity markets and Securities and Exchange Commission responsibilities.

CFTC News Turns to Rulemaking After CLARITY Act Senate Vote

Senate roll-call records showed lawmakers rejected cloture on H.R. 3633 by 49-50 on Sept. 15. The motion required support from three-fifths of senators voting under Senate rules. The failed motion prevented the chamber from proceeding under that cloture request.

Government Publishing Office records identify H.R. 3633 as the Digital Asset Market Clarity Act of 2025. The legislation proposed digital commodity regulation through the SEC and CFTC. The House passed the measure by 294-134 on July 17, 2025.

Selig responded on Sept. 16 by saying Americans deserved regulatory clarity, legal certainty, and consumer protections in crypto markets. He said the CFTC would advance the administration’s framework through existing statutory authority. Selig also said the agency was ready to issue rules for the “new frontier of finance.” Michael Selig’s Sept. 16 X statement.

CFTC Crypto News Today Focuses on Existing Authority

The agency had prepared that regulatory route before the Senate vote. During an Aug. 20 Innovation Advisory Committee meeting, Selig said staff was exploring market-structure rules under existing authority. The direction created a regulatory fallback if Congress failed to complete market-structure legislation.

CFTC records also show the agency formed an Innovation Task Force on March 24. The task force covers crypto assets, blockchain technologies, artificial intelligence and prediction markets. It also coordinates with the SEC and its Crypto Task Force on related initiatives.

The CFTC and SEC had already issued joint crypto guidance in March. Their interpretation explained how federal securities laws apply to certain crypto assets and transactions. The CFTC said its staff would administer the Commodity Exchange Act consistently with that interpretation.

That action did not reproduce the broader jurisdictional framework proposed by Congress. The CLARITY Act addressed digital commodity regulation across the two agencies and other federal requirements. Agency rules remain bounded by authority already delegated under existing statutes.

CFTC News Adds Pressure to Agency-Led Crypto Rules

The SEC has also pursued rulemaking while Congress considered market-structure legislation. On Aug. 18, the commission proposed Regulation Crypto Assets for certain investment contracts involving crypto assets. The proposal included offering exemptions and a conditional safe harbor tied to securities-law requirements.

SEC records set an Oct. 20 deadline for public comments on that proposal. The commission said the framework followed its March interpretation on crypto assets. Those actions show regulators can modify rules within existing legal mandates while legislation remains unresolved.

For crypto firms, the regulatory outcome could differ from the congressional framework. H.R. 3633 would have written market-structure requirements into federal statute. CFTC and SEC rulemaking instead depends on the agencies’ current legal authority and administrative procedures.

That distinction matters for exchanges, brokers, and issuers seeking durable federal standards. Congressional statutes can create new jurisdiction or direct agencies toward defined mandates. Agency actions generally implement or interpret powers Congress has already granted.

CFTC Crypto News Today Shifts Toward Next Regulatory Steps

The immediate focus now moves toward formal CFTC proposals and the SEC’s open rulemaking process. Selig’s Sept. 16 statement indicated the CFTC intended to continue its crypto work despite the Senate setback. The agency had already established internal structures for that process. Selig’s statement on X

The Senate vote did not repeal H.R. 3633 or enact an alternative framework. It rejected cloture on the motion to proceed. Further congressional action now depends on Senate scheduling and leadership decisions.

Senate records did not list another loi CLARITY vote date. The next fixed regulatory milestone is Oct. 20, when comments close on the SEC proposal. Any CFTC market-structure proposal would create another formal rulemaking track after the failed Senate vote.

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