CLARITY Act Advances as CFTC Appointments Urged
Leaders of the House Agriculture Committee have urged President Trump to swiftly appoint commissioners to the Commodity Futures Trading Commission (CFTC). Chairman Michael Selig has been the agency’s sole commissioner since December, with four seats sitting empty.
CLARITY Act Progress
The CLARITY Act is advancing through the Senate, aiming to clarify the regulatory framework for cryptocurrency and delineate jurisdiction between the SEC and CFTC. Passage would provide the crypto industry with a clearer compliance pathway.
Industry Impact
Long vacancies on the CFTC commission have slowed regulatory decision-making. As the crypto market continues to grow, the industry urgently needs a fully staffed commission to drive key policy decisions. New appointments will be a critical variable shaping US crypto regulation.
Source: The Block