# CFTC Chair Selig: Crypto firms adopt rules as Congress stalls

> CFTC Chair Michael Selig says crypto firms are signing up for his agency's rules as Congress stalls on the Clarity Act.
- Title: CFTC Chair Selig: Crypto firms adopt rules as Congress stalls
- Summary: CFTC Chair Michael Selig says crypto firms are signing up for his agency's rules as Congress stalls on the Clarity Act.
- Keywords: cftc, crypto firms, clarity act, michael selig, regulation ctx, regulation cam, prediction markets, federal license, state regulations, Startup Fortune
- Source: Startup Fortune — https://startupfortune.com/cftc-chair-selig-says-crypto-firms-are-signing-up-for-his-agencys-rules-as-congress-stalls
- Published: 2026-11-14T08:06:13+00:00
- Read time: 1 min
- Topics: cftc, crypto firms, clarity act, michael selig, regulation ctx, regulation cam, prediction markets, federal license, state regulations, startups, business
## CFTC rulemaking timeline
CFTC Chair Michael Selig says crypto firms are signing up for his agency's rules as Congress stalls on the Clarity Act.
## Clarity Act stalls in Senate
The Clarity Act stalled in the Senate on September 15 on a 49-50 procedural vote with Democrats citing ethics concerns.
## CFTC moves to draft rules
CFTC filed its own crypto rulebook with the White House on September 17 after the Senate failed to pass the Clarity Act.
## Regulation CTX and CAM
Regulation CTX covers crypto transactions under the Commodity Exchange Act while Regulation CAM creates a crypto asset market for leveraged trading.
## Firms opt into rules
Exchanges already registered with the CFTC want to add spot trading while new entrants prefer federal licensing over 50 state regimes.
## CFTC gains regulatory authority
The CFTC becomes the agency writing practical rules for US crypto derivatives and potentially retail spot-adjacent markets.
## Prediction markets conflict
CFTC faces conflict with states over prediction markets like Kalshi and Polymarket, which it claims are not gambling.
## Key takeaway

CFTC Chair Michael Selig reports crypto firms are opting into his agency's proposed crypto rules after Congress stalled on the Clarity Act.