CFTC Chairman Mike Selig on Thursday said federal regulators are moving ahead with new crypto trading rules despite Congress failing to pass the CLARITY Act.

Stronger investor protections, regulated leverage trading and expanded Bitcoin BTCUSD adoption are some key areas of focus.

How CFTC Plans For Crypto Market Regulations

Speaking on the Coin Stories podcast, Selig outlined how the CFTC and SEC plan to establish crypto market regulations using their existing authority. The CFTC’s proposal would allow cryptocurrency exchanges to voluntarily register under federal oversight rather than relying solely on state money transmitter licenses.

It would also permit exchanges to offer margin trading to retail investors, an activity generally…