Key facts Commodity Futures Trading Commission (CFTC) Chairman Michael Selig said on 20 August 2026 that his agency will not wait for Congress to act on crypto. Speaking at the CFTC's first Innovation Advisory Committee meeting, Selig said the agency would use its existing authorities to build a regulatory regime for crypto asset markets if lawmakers fail to pass the Digital Asset Market Clarity (CLARITY) Act. He said he has already directed staff to begin the work.
"If Clarity continues to stall because of Democrat obstruction, the CFTC will utilize its existing authorities to begin establishing a regime for crypto asset markets", 20 August 2026.
— Michael Selig, Chairman, Commodity Futures Trading Commission
Selig directs staff to draft a crypto market regimeSelig said the CFTC would create a "crypto asset market" label modeled on its existing category of designated contract markets (DCMs). Under the approach, current CFTC registrants and some unregistered crypto exchanges could come under CFTC oversight. These venues could then offer leveraged or margined crypto trading under rules tailored to digital assets. Selig also directed staff to engage with developers of on-chain finance protocols so they can operate legally in the United States.
Selig calls legislation the surest path to lasting rulesSelig framed the plan as a backstop, not a replacement for legislation. He said passing the CLARITY Act remains the surest path to durable rules and pledged to give the bill room for a Senate vote. If Democrats cannot support a bipartisan version, he said, he would direct staff to move swiftly to propose the new rules. The committee also discussed artificial intelligence and prediction markets, with more CFTC proposals expected.
"Passing Clarity is the surest way that we can prevent another Gary Gensler from running a rogue campaign of lawfare against the individuals and companies in this room today", 20 August 2026.
— Michael Selig, Chairman, Commodity Futures Trading Commission
The SEC proposed its own crypto rule days earlierThe CFTC's move follows a parallel step by its sister agency. On 18 August 2026, the Securities and Exchange Commission (SEC) proposed Regulation Crypto Assets, its first major crypto rule. The proposal creates two exemptions from securities registration requirements: offerings of up to $5 million over a four-year period, and up to $75 million during each 12-month period. It also includes a conditional safe harbor from the "investment contract" test that defines many tokens as securities.
The Clarity Act still needs 60 Senate votesThe CLARITY Act's advancement still depends on the U.S. Senate, where the bill needs 60 votes to pass. Lawmakers from both parties — but mostly Democrats — argue that their concerns with the current draft have not been answered. One of the biggest outstanding issues is whether the White House will accept a revised ethics provision put forward by Senators Ruben Gallego and Thom Tillis.
Bitcoin traded near $75,000 as crypto ralliedCrypto markets climbed around the regulatory push. Bitcoin (BTC) traded at $74,983.90 at the time of publication, up 8.1% over the past 24 hours (CoinPaprika, 21 August 2026). The largest cryptocurrency had gained 18.5% over the past seven days, lifting its market value above $1.5 trillion.
Primary source: Source ↗ "If Clarity continues to stall because of Democrat obstruction, the CFTC will utilize its existing authorities to begin establishing a regime for crypto asset markets", 20 August 2026.
— Michael Selig, Chairman, Commodity Futures Trading Commission
Selig directs staff to draft a crypto market regimeSelig said the CFTC would create a "crypto asset market" label modeled on its existing category of designated contract markets (DCMs). Under the approach, current CFTC registrants and some unregistered crypto exchanges could come under CFTC oversight. These venues could then offer leveraged or margined crypto trading under rules tailored to digital assets. Selig also directed staff to engage with developers of on-chain finance protocols so they can operate legally in the United States.
Selig calls legislation the surest path to lasting rulesSelig framed the plan as a backstop, not a replacement for legislation. He said passing the CLARITY Act remains the surest path to durable rules and pledged to give the bill room for a Senate vote. If Democrats cannot support a bipartisan version, he said, he would direct staff to move swiftly to propose the new rules. The committee also discussed artificial intelligence and prediction markets, with more CFTC proposals expected.
"Passing Clarity is the surest way that we can prevent another Gary Gensler from running a rogue campaign of lawfare against the individuals and companies in this room today", 20 August 2026.
— Michael Selig, Chairman, Commodity Futures Trading Commission
The SEC proposed its own crypto rule days earlierThe CFTC's move follows a parallel step by its sister agency. On 18 August 2026, the Securities and Exchange Commission (SEC) proposed Regulation Crypto Assets, its first major crypto rule. The proposal creates two exemptions from securities registration requirements: offerings of up to $5 million over a four-year period, and up to $75 million during each 12-month period. It also includes a conditional safe harbor from the "investment contract" test that defines many tokens as securities.
The Clarity Act still needs 60 Senate votesThe CLARITY Act's advancement still depends on the U.S. Senate, where the bill needs 60 votes to pass. Lawmakers from both parties — but mostly Democrats — argue that their concerns with the current draft have not been answered. One of the biggest outstanding issues is whether the White House will accept a revised ethics provision put forward by Senators Ruben Gallego and Thom Tillis.
Bitcoin traded near $75,000 as crypto ralliedCrypto markets climbed around the regulatory push. Bitcoin (BTC) traded at $74,983.90 at the time of publication, up 8.1% over the past 24 hours (CoinPaprika, 21 August 2026). The largest cryptocurrency had gained 18.5% over the past seven days, lifting its market value above $1.5 trillion.
Primary source: Source ↗ Selig directs staff to draft a crypto market regimeSelig said the CFTC would create a "crypto asset market" label modeled on its existing category of designated contract markets (DCMs). Under the approach, current CFTC registrants and some unregistered crypto exchanges could come under CFTC oversight. These venues could then offer leveraged or margined crypto trading under rules tailored to digital assets. Selig also directed staff to engage with developers of on-chain finance protocols so they can operate legally in the United States.
Selig calls legislation the surest path to lasting rulesSelig framed the plan as a backstop, not a replacement for legislation. He said passing the CLARITY Act remains the surest path to durable rules and pledged to give the bill room for a Senate vote. If Democrats cannot support a bipartisan version, he said, he would direct staff to move swiftly to propose the new rules. The committee also discussed artificial intelligence and prediction markets, with more CFTC proposals expected.
"Passing Clarity is the surest way that we can prevent another Gary Gensler from running a rogue campaign of lawfare against the individuals and companies in this room today", 20 August 2026.
— Michael Selig, Chairman, Commodity Futures Trading Commission
The SEC proposed its own crypto rule days earlierThe CFTC's move follows a parallel step by its sister agency. On 18 August 2026, the Securities and Exchange Commission (SEC) proposed Regulation Crypto Assets, its first major crypto rule. The proposal creates two exemptions from securities registration requirements: offerings of up to $5 million over a four-year period, and up to $75 million during each 12-month period. It also includes a conditional safe harbor from the "investment contract" test that defines many tokens as securities.
The Clarity Act still needs 60 Senate votesThe CLARITY Act's advancement still depends on the U.S. Senate, where the bill needs 60 votes to pass. Lawmakers from both parties — but mostly Democrats — argue that their concerns with the current draft have not been answered. One of the biggest outstanding issues is whether the White House will accept a revised ethics provision put forward by Senators Ruben Gallego and Thom Tillis.
Bitcoin traded near $75,000 as crypto ralliedCrypto markets climbed around the regulatory push. Bitcoin (BTC) traded at $74,983.90 at the time of publication, up 8.1% over the past 24 hours (CoinPaprika, 21 August 2026). The largest cryptocurrency had gained 18.5% over the past seven days, lifting its market value above $1.5 trillion.
Primary source: Source ↗ Selig said the CFTC would create a "crypto asset market" label modeled on its existing category of designated contract markets (DCMs). Under the approach, current CFTC registrants and some unregistered crypto exchanges could come under CFTC oversight. These venues could then offer leveraged or margined crypto trading under rules tailored to digital assets. Selig also directed staff to engage with developers of on-chain finance protocols so they can operate legally in the United States.
Selig calls legislation the surest path to lasting rulesSelig framed the plan as a backstop, not a replacement for legislation. He said passing the CLARITY Act remains the surest path to durable rules and pledged to give the bill room for a Senate vote. If Democrats cannot support a bipartisan version, he said, he would direct staff to move swiftly to propose the new rules. The committee also discussed artificial intelligence and prediction markets, with more CFTC proposals expected.
"Passing Clarity is the surest way that we can prevent another Gary Gensler from running a rogue campaign of lawfare against the individuals and companies in this room today", 20 August 2026.
— Michael Selig, Chairman, Commodity Futures Trading Commission
The SEC proposed its own crypto rule days earlierThe CFTC's move follows a parallel step by its sister agency. On 18 August 2026, the Securities and Exchange Commission (SEC) proposed Regulation Crypto Assets, its first major crypto rule. The proposal creates two exemptions from securities registration requirements: offerings of up to $5 million over a four-year period, and up to $75 million during each 12-month period. It also includes a conditional safe harbor from the "investment contract" test that defines many tokens as securities.
The Clarity Act still needs 60 Senate votesThe CLARITY Act's advancement still depends on the U.S. Senate, where the bill needs 60 votes to pass. Lawmakers from both parties — but mostly Democrats — argue that their concerns with the current draft have not been answered. One of the biggest outstanding issues is whether the White House will accept a revised ethics provision put forward by Senators Ruben Gallego and Thom Tillis.
Bitcoin traded near $75,000 as crypto ralliedCrypto markets climbed around the regulatory push. Bitcoin (BTC) traded at $74,983.90 at the time of publication, up 8.1% over the past 24 hours (CoinPaprika, 21 August 2026). The largest cryptocurrency had gained 18.5% over the past seven days, lifting its market value above $1.5 trillion.
Primary source: Source ↗ Selig framed the plan as a backstop, not a replacement for legislation. He said passing the CLARITY Act remains the surest path to durable rules and pledged to give the bill room for a Senate vote. If Democrats cannot support a bipartisan version, he said, he would direct staff to move swiftly to propose the new rules. The committee also discussed artificial intelligence and prediction markets, with more CFTC proposals expected.
"Passing Clarity is the surest way that we can prevent another Gary Gensler from running a rogue campaign of lawfare against the individuals and companies in this room today", 20 August 2026.
— Michael Selig, Chairman, Commodity Futures Trading Commission
The SEC proposed its own crypto rule days earlierThe CFTC's move follows a parallel step by its sister agency. On 18 August 2026, the Securities and Exchange Commission (SEC) proposed Regulation Crypto Assets, its first major crypto rule. The proposal creates two exemptions from securities registration requirements: offerings of up to $5 million over a four-year period, and up to $75 million during each 12-month period. It also includes a conditional safe harbor from the "investment contract" test that defines many tokens as securities.
The Clarity Act still needs 60 Senate votesThe CLARITY Act's advancement still depends on the U.S. Senate, where the bill needs 60 votes to pass. Lawmakers from both parties — but mostly Democrats — argue that their concerns with the current draft have not been answered. One of the biggest outstanding issues is whether the White House will accept a revised ethics provision put forward by Senators Ruben Gallego and Thom Tillis.
Bitcoin traded near $75,000 as crypto ralliedCrypto markets climbed around the regulatory push. Bitcoin (BTC) traded at $74,983.90 at the time of publication, up 8.1% over the past 24 hours (CoinPaprika, 21 August 2026). The largest cryptocurrency had gained 18.5% over the past seven days, lifting its market value above $1.5 trillion.
Primary source: Source ↗ "Passing Clarity is the surest way that we can prevent another Gary Gensler from running a rogue campaign of lawfare against the individuals and companies in this room today", 20 August 2026.
— Michael Selig, Chairman, Commodity Futures Trading Commission
The SEC proposed its own crypto rule days earlierThe CFTC's move follows a parallel step by its sister agency. On 18 August 2026, the Securities and Exchange Commission (SEC) proposed Regulation Crypto Assets, its first major crypto rule. The proposal creates two exemptions from securities registration requirements: offerings of up to $5 million over a four-year period, and up to $75 million during each 12-month period. It also includes a conditional safe harbor from the "investment contract" test that defines many tokens as securities.
The Clarity Act still needs 60 Senate votesThe CLARITY Act's advancement still depends on the U.S. Senate, where the bill needs 60 votes to pass. Lawmakers from both parties — but mostly Democrats — argue that their concerns with the current draft have not been answered. One of the biggest outstanding issues is whether the White House will accept a revised ethics provision put forward by Senators Ruben Gallego and Thom Tillis.
Bitcoin traded near $75,000 as crypto ralliedCrypto markets climbed around the regulatory push. Bitcoin (BTC) traded at $74,983.90 at the time of publication, up 8.1% over the past 24 hours (CoinPaprika, 21 August 2026). The largest cryptocurrency had gained 18.5% over the past seven days, lifting its market value above $1.5 trillion.
Primary source: Source ↗ The SEC proposed its own crypto rule days earlierThe CFTC's move follows a parallel step by its sister agency. On 18 August 2026, the Securities and Exchange Commission (SEC) proposed Regulation Crypto Assets, its first major crypto rule. The proposal creates two exemptions from securities registration requirements: offerings of up to $5 million over a four-year period, and up to $75 million during each 12-month period. It also includes a conditional safe harbor from the "investment contract" test that defines many tokens as securities.
The Clarity Act still needs 60 Senate votesThe CLARITY Act's advancement still depends on the U.S. Senate, where the bill needs 60 votes to pass. Lawmakers from both parties — but mostly Democrats — argue that their concerns with the current draft have not been answered. One of the biggest outstanding issues is whether the White House will accept a revised ethics provision put forward by Senators Ruben Gallego and Thom Tillis.
Bitcoin traded near $75,000 as crypto ralliedCrypto markets climbed around the regulatory push. Bitcoin (BTC) traded at $74,983.90 at the time of publication, up 8.1% over the past 24 hours (CoinPaprika, 21 August 2026). The largest cryptocurrency had gained 18.5% over the past seven days, lifting its market value above $1.5 trillion.
Primary source: Source ↗ The CFTC's move follows a parallel step by its sister agency. On 18 August 2026, the Securities and Exchange Commission (SEC) proposed Regulation Crypto Assets, its first major crypto rule. The proposal creates two exemptions from securities registration requirements: offerings of up to $5 million over a four-year period, and up to $75 million during each 12-month period. It also includes a conditional safe harbor from the "investment contract" test that defines many tokens as securities.
The Clarity Act still needs 60 Senate votesThe CLARITY Act's advancement still depends on the U.S. Senate, where the bill needs 60 votes to pass. Lawmakers from both parties — but mostly Democrats — argue that their concerns with the current draft have not been answered. One of the biggest outstanding issues is whether the White House will accept a revised ethics provision put forward by Senators Ruben Gallego and Thom Tillis.
Bitcoin traded near $75,000 as crypto ralliedCrypto markets climbed around the regulatory push. Bitcoin (BTC) traded at $74,983.90 at the time of publication, up 8.1% over the past 24 hours (CoinPaprika, 21 August 2026). The largest cryptocurrency had gained 18.5% over the past seven days, lifting its market value above $1.5 trillion.
Primary source: Source ↗ The CLARITY Act's advancement still depends on the U.S. Senate, where the bill needs 60 votes to pass. Lawmakers from both parties — but mostly Democrats — argue that their concerns with the current draft have not been answered. One of the biggest outstanding issues is whether the White House will accept a revised ethics provision put forward by Senators Ruben Gallego and Thom Tillis.
Bitcoin traded near $75,000 as crypto ralliedCrypto markets climbed around the regulatory push. Bitcoin (BTC) traded at $74,983.90 at the time of publication, up 8.1% over the past 24 hours (CoinPaprika, 21 August 2026). The largest cryptocurrency had gained 18.5% over the past seven days, lifting its market value above $1.5 trillion.
Primary source: Source ↗ Crypto markets climbed around the regulatory push. Bitcoin (BTC) traded at $74,983.90 at the time of publication, up 8.1% over the past 24 hours (CoinPaprika, 21 August 2026). The largest cryptocurrency had gained 18.5% over the past seven days, lifting its market value above $1.5 trillion.
Primary source: Source ↗ Primary source: Source ↗ Cryptocurrencies are highly volatile and involve significant risk. You may lose part or all of your investment. All information on Coinpaprika is provided for informational purposes only and does not constitute financial or investment advice. Always conduct your own research (DYOR) and consult a qualified financial advisor before making investment decisions. Coinpaprika is not liable for any losses resulting from the use of this information.