According to Cointelegraph, the U.S. Commodity Futures Trading Commission (CFTC) has announced it is proposing a regulatory framework for cryptocurrency assets following a failed vote on the CLARITY legislation. The proposal comes after Congress did not advance the CLARITY bill, which aimed to clarify regulatory oversight for digital assets.
Michael Selig, Chair of the CFTC, stated that the agency is acting under its existing statutory authorities to address cryptocurrency regulation in light of the legislative outcome. No details on timeline, scope, or collaborative elements with other agencies were provided in the source material.
The announcement follows the CLARITY vote result, which did not lead to passage of the bill. The CFTC’s move represents a direct response to the legislative setback, indicating reliance on current legal powers rather than new legislation for regulatory action.
