Michael Selig, Chairman of the CFTC, said that should the Clarity Act continue to face delays due to Democratic opposition, the CFTC plans to leverage its existing powers to set up a regulatory framework for crypto markets. The Clarity Act aims to shift the primary oversight of digital commodities to the CFTC but has yet to be enacted into law. Selig’s comments underscore the agency’s readiness to act independently to ensure regulatory progress for digital assets. Bitcoin price activity suggests market participants view potential regulatory clarity as a positive factor.
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