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CFTC Updates Crypto Rules Amid Clarity Act Stalls
CFTC clarifies crypto rules as Clarity Act stalls in Senate.
In brief
CFTC clarifies crypto rules as Clarity Act stalls in Senate. CFTC updates crypto regulations after Clarity Act fails in Senate, using existing authority to establish market structure. Originally reported by Pymnts.
CFTC updates crypto rules
The Commodity Futures Trading Commission updated its FAQs about crypto assets and blockchain technologies to provide greater clarity, the regulator said in a Thursday press release.
Addresses tokenized investments
The updates address investments of customer funds in tokenized forms of permitted investments and the use of blockchain technologies to meet recordkeeping requirements.
Clarity Act stalls in Senate
The Clarity Act failed to advance in the Senate earlier that week, prompting the CFTC to seek regulatory clarity through existing authorities.
CFTC submits crypto regulation proposal
On Sept. 17, the CFTC submitted a proposal to regulate crypto asset transactions and crypto asset markets to the Office of Management and Budget.
CFTC chairman's statement
CFTC Chairman Michael S. Selig stated the agency would use existing authorities to establish a crypto asset market regime if Congress did not pass the Clarity Act.
What happens next
The CFTC will establish a crypto asset market regime using existing authorities after the Clarity Act fails in Congress.
What to remember
CFTC updates crypto regulations after Clarity Act fails in Senate, using existing authority to establish market structure.
