CFTC Chairman Selig says he is disappointed in Congress over stalled crypto bill

CFTC Chairman Criticizes Congress for Stalling Crypto Bill

Proposed Regulations

The CFTC has proposed two new rules to regulate leveraged crypto trading and trading platforms. Regulation CTX focuses on leveraged retail trading in crypto assets, while Regulation CAM sets up a federal registration pathway for trading platforms. Both rules rely on powers the agency already has under the Commodity Exchange Act.

Background

The CLARITY Act was built to draw a line between the CFTC and the Securities and Exchange Commission on digital assets. However, it stalled in the Senate on a 49-50 procedural vote. CFTC Chairman Michael S. Selig voiced his disappointment with Congress, stating that the agency had placed a high value on getting legislative clarity.

Implications

The proposed regulations may make some traders more comfortable participating in digital asset markets, particularly where leverage is involved. Registration requirements and proof-of-reserves obligations take resources to meet, which could lead to consolidation among platforms able to comply.

Future Outlook

The CFTC's path to the chairman's seat Selig was sworn in as CFTC Chairman on December 22, 2025. Before that, he served on the SEC's Crypto Task Force. The current CFTC proposals do not require new legislative authority, but broader oversight of spot crypto markets would still need approval from Congress.