Browsing: CFTC

The Commodity Futures Trading Commission said it will not require certain software developers to register as introducing brokers if they meet specific conditions. The move stands to reduce regulatory burdens for companies developing crypto trading services.

Add preferred source CFTC Chairman Michael Selig said the agency will advance crypto market-structure rules using existing statutory authority after the Senate blocked the CLARITY Act on a 49-50 cloture vote, 11 short of the 60 required. The failed procedural vote on Sept. 15 shifted regulatory momentum toward the CFTC and SEC, which have both…

Although the CLARITY Act – a proposed legislation in the United States aimed at regulating the cryptocurrency industry – stalled in a major Senate vote earlier this week, key federal regulators – including the Securities and Exchange Commission (SEC),  Commodity Futures Trading Commission (CFTC), and Federal Deposit Insurance Corporation (FDIC) – have declared actionable and…

With the CLARITY Act dead in the Senate and Congress sidelined, SEC Chair Paul Atkins and CFTC Chair Michael Selig just announced they will write crypto rules on their own. Here is what their actual legal authority means for XRP…

The U.S. crypto regulation debate is shifting toward federal agencies after the Senate failed to advance the CLARITY Act. CFTC Chairman Michael Selig said his agency intends to continue developing crypto rules using powers Congress has already granted it.

The heads of two federal financial regulators said on Sept. 16 that their agencies would proceed with crypto rulemaking under existing authority, after the US Senate voted against advancing the Digital Asset Market Clarity Act the previous day.

Yesterday, the Senate held the long-awaited vote on the CLARITY Act and failed to advance it. Today, the conversation had already shifted to what comes next.

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Michael Selig, Chairman of the US Commodity Futures Trading Commission (CFTC), announced that the institution will continue its regulatory efforts using its existing legal powers following the failure of the Senate vote on the Clarity Act, a regulatory framework for the cryptocurrency market.

The chairs of the SEC and the CFTC pledged Wednesday to regulate crypto using the authority their agencies have now, one day after the Clarity Act stalled in a Senate procedural vote. JPMorgan analysts said the same day that rules written that way are easier to undo than a statute.