CFTC to regulate crypto without Congress after CLARITY Act failure
- —The CLARITY Act fell short of 60 votes: 50 for, 49 against
- —Selig: the CFTC is 'ready to issue rules' under existing authority
- —The CFTC can regulate crypto derivatives through DCMs and Part 38
- —Spot markets and DeFi remain out of reach without new legislation
Why it matters: US crypto regulation is shifting from Congress to the CFTC, giving the industry partial clarity but leaving rules vulnerable to changes in power.
Source: Crypto News Flash