CFTC Chairman Michael Selig Says New Crypto Rules Are Coming Soon. Here's What Crypto Investors Need to Know.
The Clarity Act, Congress's crypto market bill, failed a procedural vote in the Senate on Sept. 15, but that doesn't mean crypto won't be getting a new set of regulations. On Aug. 20, in advance of the Clarity Act vote, Commodity Futures Trading Commission (CFTC) Chairman Michael Selig said that he had told his staff to explore developing crypto rules under the agency's existing powers in case the legislative rulemaking attempt failed. Then, on Oct. 5, the CFTC followed through on that and published an advance notice of proposed rulemaking, which is the first formal step toward a regulation. Ethereum (CRYPTO: ETH) , Solana (CRYPTO: SOL) , XRP (CRYPTO: XRP) , and Hyperliquid (CRYPTO: HYPE) could all be affected by the proposed new rules. Here's what's on the table. Image source: Getty Images. Continue reading