CFTC Says It Will Move Ahead With Crypto Rules Even if CLARITY Act Fails

Highlights:

• CFTC Chair Michael Selig says the agency could pursue crypto market rules even without the CLARITY Act.
• Selig remains optimistic about the bill and wants support from both Republicans and Democrats in Congress.
• CFTC staff are already evaluating possible rulemaking under existing authority if lawmakers fail to pass legislation.

The U.S. Commodity Futures Trading Commission (CFTC) is prepared to move forward with crypto market structure rules even if Congress fails to pass the CLARITY Act, CFTC Chair Michael Selig said. The agency is already studying how it could use its existing authority to regulate digital asset markets without waiting for new legislation.

Selig made the remarks during an August 20 interview with Bloomberg Television, one day after President Donald Trump urged Congress to pass the CLARITY Act at a White House crypto event. Bloomberg’s Tyler Kendall said the Senate is expected to vote on the legislation on September 15. Selig said he is optimistic the CLARITY Act will pass and called for support from both Republicans and Democrats.

If CLARITY continues to stall because of Democratic obstruction, the @CFTC will utilize its existing authorities to begin establishing a regime for crypto asset markets. We owe it to the American people to do so.

Here's how we'll get it done ⬇️ pic.twitter.com/mROqraLzFe

— Mike Selig (@ChairmanSelig) August 20, 2026

CFTC Ready to Use Existing Authority for Crypto Rules

Selig said legislation remains the CFTC’s preferred path because a law passed by Congress would provide a stronger and more lasting framework for U.S. crypto regulation. However, the agency is prepared to act if lawmakers cannot reach an agreement.

He stated:

“We’re not afraid to use that authority. The president has promised market structure for the crypto industry, and that’s what we’re going to do, whether we have a bill or not. But we’re optimistic the bill is going to set the standard. We really want the United States to lead.”

Selig said the CFTC and other federal agencies already have powers under existing statutes that could support new digital asset rules.

He added:

“It’s really important that we have market structure. We can do that through rules. We can do that through laws. The CFTC has a lot of authority under its existing statutes, as do other agencies. And if we have to utilize that authority to create rules without the supporting legislation, we’ll do it.”

The CLARITY Act aims to establish clearer rules for digital assets in the United States and provide a more defined regulatory structure for the crypto industry.

CFTC Staff Already Exploring Potential Crypto Rulemaking

The CFTC is also examining its options before Congress decides the bill’s fate. Selig said he has directed agency staff to evaluate possible rulemaking under the regulator’s current legal authority.

Selig noted:

“I’ve asked the staff to explore and evaluate potential rulemakings utilizing our existing authority, but we’re focused on the bill today. Until we get that across the line, until we have an answer on where the bill’s going, we’re not going to propose any new rules.”

Therefore, the CFTC is preparing alternatives but does not plan to propose new crypto rules while Congress is still considering the legislation.

CLARITY Act Ethics Provision Remains Under Negotiation

Selig also confirmed that an ethics provision in the CLARITY Act remains under negotiation. He said any final provision should be fair and apply equally rather than target President Trump or another individual. The bill previously advanced through the Senate Banking Committee in a bipartisan 15-9 vote on May 14. Senate Majority Leader John Thune later filed a cloture motion on August 8 to move the legislation toward floor consideration.

For now, the CFTC remains focused on getting the CLARITY Act through Congress. If the legislation stalls, however, Selig said the agency is prepared to use its existing powers to establish clearer rules for the U.S. crypto market.