Crypto Industry Will Get Rules One Way or Another, Selig Says

(Bloomberg) — The crypto industry will get market structure rules even if Congress fails to pass landmark legislation, the head of the Commodity Futures Trading Commission said Thursday.

• <a href="https://www.bloomberg.com/news/articles/2026-08-19/long-dated-treasuries-rally-as-treasury-boosts-bond-buybacks?utm_campaign=bn&utm_medium=distro&utm_source=yahooUS” rel=”nofollow noopener” target=”_blank”>Bessent Deploys Debt Buybacks in Sign of Concern Over Yield Rise

• China Sentences Evergrande’s Hui to Life for ‘Heinous’ Crime

• Natalie Harp, Trump’s Gatekeeper, Is at Center of Senator Jon Ossoff Clash

“It’s really important that we have market structure. We can do that through rules, we can do that through laws,” Chairman Michael Selig said in an interview with Bloomberg Television ahead of the agency’s inaugural Innovation Advisory Committee meeting.

The CFTC chairman said the agency is weighing a number of potential crypto rules but is waiting to see what happens with the so-called Clarity Act. That bill has stalled in the US Senate amid a fight over ethics provisions spurred in part by President Donald Trump’s involvement in the sector. Trump reported earning $1.4 billion from crypto and memecoin-related ventures in 2025.

The legislation could hand the CFTC primary authority to regulate the digital assets industry. While it is slated for a procedural vote in the Senate in mid-September, significant issues linger that could make it difficult to get enough votes to pass before lawmakers turn their eyes to the November midterm elections.

While legislation is “the most surefire way to lock in crypto market structure,” the agency has significant authority to act under its existing statute, he added. “If we have to utilize that authority to create rules without the the supporting legislation, we’ll do it,” Selig said.

Most Read from Bloomberg Businessweek

Source: finance.yahoo.com