CFTC chair vows to ‘move swiftly’ on crypto rules if Congress fails to pass legislation
Summary
Michael Selig, the chair of the Commodity Futures Trading Commission (CFTC), said the agency will quickly create rules for the cryptocurrency market if Congress does not pass new laws this year. He spoke to leaders in crypto and prediction markets, emphasizing the agency’s readiness to act.Key Facts
- Michael Selig is the head of the CFTC.
- He made the statement at a meeting with crypto and prediction market leaders.
- The CFTC will move quickly to regulate cryptocurrencies if Congress doesn’t pass laws soon.
- The agency is prepared to start making rules immediately.
- The goal is to provide clearer regulations for the growing crypto market.
- Congress is currently working on legislation related to cryptocurrencies.
- The CFTC oversees futures, options, and some digital asset markets.
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